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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (12626)6/10/2002 11:47:36 PM
From: J.T.  Read Replies (3) of 19219
 
Rydex Total Assets Update for Monday, June 10th, 2002:


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

Money Market        1.634  BILLION**BULLISH  Double Overbought 
  
***************

Regular Series: (100% Correlation to Index (Nova 150%))

SPX Long - NOVA     225.9  Million**BULLISH  Oversold 
SPX Short- URSA     328.7  Million**BULLISH  Double Overbought
NDX Long - OTC      582.3  Million**BULLISH  Triple Oversold  
Lowest Close Since October 1998
NDX Short- ARKTOS   148.1  Million**BULLISH  Double Overbought

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

Dynamic Series: (200% correlation to Index)

SPX Long - TITAN     95.5  Million**BULLISH  Double Oversold  
SPX Short- TEMPEST  222.8  Million**BULLISH  Overbought 
Near/At All Time Highs
NDX Long - VELOCITY 144.2  Million**BULLISH  Double Oversold 
NDX Short- VENTURE  233.7  Million**BULLISH  Double Overbought

Sector Funds:  
               
XAU Precious Metals  79.5  Million**BULLISH  Oversold
XOI Energy           20.7  Million**BULLISH  Triple Oversold
OSX Energy Services  25.3  Million**BULLISH  Quadruple Oversold
BKX Banking          38.0  Million**BULLISH  Double Oversold    
BTK Biotech         145.3  Million**BULLISH  Triple Oversold  
Near New 3 1/2 Year Low
RUT 2000 - MIKROS    42.4  Million**BULLISH  Triple Oversold 
RLX Retail           45.2  Million**BULLISH  
Telecommunications    5.4  Million**BULLISH  Double Oversold
SOX Electronics      50.4  Million**BULLISH  Double Oversold

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

In the battering 1974 Great Bear Market, the public shorted at greater magnitude above the specialists in 43 out of the 52 reporting weeks. In the more stringent test, the public shorted above the NYSE members in 4 out of 52 weeks.

So far in 2002, the public has shorted above the specialists 22 out of 22 weeks. In the more stringent test, the public has shorted above the NYSE members in 5 out of 22 weeks.

If we go back to when the short action really began to heat up, one only needs to go back to an additional 20 weeks back beginning with the August 17th reporting week. Since that time, the public has shorted above the specialists in 38 out of the last 42 reporting weeks. In the more stringent test, the public has shorted above the NYSE members in 9 of the last 42 reporting weeks.

In summary, it is highly inconceivable that the NYSE members and Specialists are wrong at the same time and the public is right in placing bets on the next major move in the market. The MELT-UP is drawing nigh just as the dark gives way to the light.

Regular Series: 100% Long NDX OTC
Dynamic Series: 100% SPX Long TITAN

Best Regards, J.T.
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