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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (9385)11/10/2001 1:21:47 AM
From: J.T.  Read Replies (4) of 19219
 
Rydex Total Assets Update for Friday, November 9th 2001: 

Regular Series:

SPX Long - NOVA     271.5  Million**BULLISH   
SPX Short- URSA     238.2  Million**BULLISH 
NDX Long - OTC      968.7  Million**BEARISH    
NDX Short- ARKTOS    87.8  Million**BULLISH  
               
XAU Precious Metals  29.4  Million**BULLISH  
Energy               36.7  Million 
Banking              26.7  Million**BULLISH   
Biotech             365.6  Million**BEARISH     
Money Market        1.337  BILLION

*******************************************

Dynamic Series (200% correlation to Index)

SPX Long - TITAN    120.9  Million**BEARISH      
SPX Short- TEMPEST  133.0  Million**BULLISH  

NDX Long - VELOCITY 189.4  Million**BEARISH     
NDX Short- VENTURE  125.5  Million**BULLISH Near All Time High

*********************************************

**NDX Short VENTURE is near all time highs after the NDX has had a solid run higher and is now consolidating gains. Technically NDX is very Bullish and sentiment picture via Venture TA confirms it. But NDX is still above overbought on 5 day RSI @ 71.70. I would like to see a pullback on Monday to get below overbought range RSI-wise, but we could easily go to double or triple overbought levels and market could scream higher before exhaustion sets in. I am not comfortable in Venture Fund as I am looking for the market to do my bidding for me with a pullback to COMP 1,760 - 1,770 range (NDX 1,440 - 1,450). NDX closed up 4 points to NDX 1,514.96.

XAU closed up 85 cents @ XAU 54.72 but JSE broke gapside down to close at JSE 1,341.70 down 29 points and right above my support 1,334.50. So for Monday XAU and JSE should converge in the same direction which I have been expecting down. Conversely, it must be noted the new moon arrives next Thursday November 15 which we know historically has been favorable to gold/gold stocks more often than not.

Money Market levels have been quietly creeping back toward oversold 1.4 Bil TA... and this is Bullish especially after the run up and consolidation of gains. Again, one down day would be perfect shake and bake to get MM back above 1.4 bil and relieve overbought 5 day RSI levels... I would then of course blow out of my NDX Short Venture position for the next leg up toward the mesmerizing COMP 2,000 level. I just hope the Long train doesn't leave without me on Monday. 

Fund   Symbol Bought  Price   Sold   Price   Gain   % Gain
Arktos RYAIX  11/06   32.40   11/09  32.63  + 0.23  + 0.7%

Regular Series: 100% Money Market
Dynamic Series: 100% NDX Short VENTURE

Best Regards, J.T.
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