Rydex Total Assets Update for Wednesday, January 30th, 2002:
Regular Series:
SPX Long - NOVA 241.3 Million**BULLISH
SPX Short- URSA 267.5 Million**Inversion
NDX Long - OTC 912.7 Million**BULLISH
NDX Short- ARKTOS 145.2 Million**BULLISH
RUT 2000 - MIKROS 89.3 Million**BULLISH
XAU Precious Metals 71.7 Million**BEARISH
XOI Energy 15.1 Million**BULLISH
OSX Energy Services 26.6 Million**BULLISH **New addition
BKX Banking 26.8 Million**BULLISH
BTK Biotech 267.8 Million
Money Market 1.306 BILLION
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Dynamic Series (200% correlation to Index)
SPX Long - TITAN 151.7 Million
SPX Short- TEMPEST 147.4 Million**BULLISH
NDX Long - VELOCITY 263.4 Million
NDX Short- VENTURE 183.3 Million**BULLISH
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**New Addition.
Yesterday cold as ice. Today in a zone like a heat seeking missile. Markets can make a fool of you one day, an expert the next. Keeping emotions out of it and maintaining focus is the name of the game.
The market registered the perfect reversal. Fear came back into play early as registered by P/C's (1.07 close), VIX, TRIN and triple oversold levels in OEX, BKX and SPX playing caboose.
1/30/02 Intraday Bottom and Final Close:,
SPX 1,081.66 SPX 1,113.57
DOW 9,529.46 DOW 9,762.86
COMP 1,851.49 COMP 1,913.44
NDX 1,418.46 NDX 1,538.94
BKX 805.55 BKX 835.81
SOX 527.12 SOX 554.88
We nailed the SPX bottom 1,080, and I believe we will be off to the races tomorrow or shortly thereafter. I would like SPX 1,118 close out tomorrow - latest by Friday. Huge overhead resistance at the 50 day MA SPX 1,143 (62% Fibonacci retrace)and major resistance right above the 200 day MA SPX 1,167 at the SPX 1,175 area. I believe we are going to take these levels out on our way to intraday highs SPX 1,205 - 1,215 level (Aug 3 and 7, 2001) into the end of this bull cycle Feb 8 (+/- 1 day). Then back down. I am extremely encoraged by BKX action which did not come near 780 and closed back up within striking distance of the 50 and 200 day MA's. Once BKX 870 is out, BKX 900-910 is finally within reach. SOX lows are nowhere near SOX 500 critical support and closed above both the 50 and 200 day MA'.s Now I see this run to SOX assault to 600 on the docket within the next few trading days eventually to SOX 650. COMP 2,180 - 2,220 intraday highs on the docket and NDX 1,820 - 1,850 in this run.
My caveat to this melt-up is this... another external event that cast a pall over the market (U.S journalist hostage situation turns grave... GATA judge rules in favor of plaintiff and formal inquiries into gold manipulation begin etc..)
Regular Series: 100% Long NDX OTC
Dynamic Series: 100% Long SPX TITAN
Best Regards, J.T. |
