Rydex Total Assets Update for Wednesday, May 1st, 2002:
***************
Money Market 1.444 BILLION**BULLISH Overbought
***************
Regular Series: (100% Correlation to Index (Nova 150%))
SPX Long - NOVA 244.1 Million**BULLISH Decrease on Up Day??
SPX Short- URSA 250.7 Million**BULLISH
NDX Long - OTC 709.2 Million**BULLISH Increase on Down Day
NDX Short- ARKTOS 129.0 Million**BULLISH
**************
Dynamic Series: (200% correlation to Index)
SPX Long - TITAN 141.6 Million**BULLISH
SPX Short- TEMPEST 160.8 Million**BULLISH
NDX Long - VELOCITY 192.6 Million
NDX Short- VENTURE 183.8 Million**BULLISH
*************
Sector Funds:
XAU Precious Metals 71.6 Million**S.T. BULLISH (ask finsterwald<g>)
XOI Energy 39.4 Million**BULLISH
OSX Energy Services 95.9 Million**BEARISH Overbought
BKX Banking 63.0 Million
BTK Biotech 187.0 Million**BULLISH Triple Oversold
Near 3 1/2 Year Low
RUT 2000 - MIKROS 160.1 Million**S.T. BEARISH
RLX Retail 30.2 Million**BULLISH Oversold
Telecommunications 6.8 Million**BULLISH Oversold
*******************************************
From the Bears perspective today, we now know that pigs do fly. We got most everything we could have asked for in last nights update. A bifurcated market with BKX finding a way to stay above BKX 871 after an ugly morning. And to top it off, a decrease in BKX TA in Rydex. From Last nights update:
...<For the market to do my bidding for me tomorrow, I would actually like to see a sloppy bifurcated market, one index up the other two down (or vice versa (DOW, SPX, COMP) which will hopefully create more seeds of doubt to any meaningful or sustainable continued market rally. This would, in turn, get TA levels more skeptical on the slope of hope in short order again. And if by some chance BKX can close above BKX 871 with BKX TA coming right back down I would be tickled pink. Of course, the market rarely does my bidding and asking for all these things to pass is like asking pigs to fly....
After the nightmare with WCOM and pathetic tape in CSCO and ORCL, tech was mired in a quagmire all day. And SOX 534 hit intraday high area, but dropped like a stone into the bell to close at SOX 527.24. Next time I'll call (SOX) 867-5309 to get its number on close. <g>
Regular Series: 100% Long NDX OTC
Dynamic Series: 100% SPX Long TITAN
Best Regards, J.T. |
