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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (14748)11/1/2002 2:10:50 AM
From: J.T.  Read Replies (3) of 19219
 
Rydex Total Assets Update for Thursday, October 31st, 2002:

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

Money Market        1.619  BILLION  
 
***************

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

SPX Long - NOVA     214.3  Million 
SPX Short- URSA     388.6  Million 
NDX Long - OTC      540.8  Million 
NDX Short- ARKTOS   133.1  Million   

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

Dynamic Series: (200% correlation to Index)

SPX Long - TITAN    181.6  Million
SPX Short- TEMPEST  294.8  Million  
NDX Long - VELOCITY 233.3  Million      
NDX Short- VENTURE  240.9  Million   
************* 

Sector Funds:  
               
XAU Precious Metals  53.7  Million 
XOI Energy           21.9  Million 
OSX Energy Services  24.5  Million 
BKX Banking          20.1  Million   
BTK Biotech         154.8  Million        
RUT 2000 - MIKROS    58.9  Million
RLX Retail           23.3  Million
Telecommunications   24.9  Million 

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


October stock market returns rocket higher and there are few believers.

The bulls are few as they are made the butt of jokes. I love it when MITA board is dead asleep.

The Dow gains 10.6% for the month of October - the highest return in the DOW since - oops the year the Bull market took off in 1982 when it gained 10.7% in October. And for those elliott wave technicians who use 1974 as the benchmark the great bull market began, the market gained 9.5% for the Dow in October 1974.

The SPX gained 8.6% for October 2002. In October 1982 it gained 11% and in 1974 it gained 16.3%.

And just as the SPX pierced 775 and lower lows guaranteed another meltdown by the bears and caught em leaning the wrong way, so too COMP intraday high today 1347.58 has been pierced on the upside today from the September 11 COMP 1347.27 intraday high with the phantom double top.

Tomorrow is rope a dope day as the closing prices will have little impact on the final outcome of the continued impending melt-up which will rocket higher into the summer of 2003 at the very least.

Die hard believers in investors intelligence need to question the wild gyrations in the numbers the last several weeks as these numbers are jumping around as bad as AAII sentiment numbers which have been rendered almost useless. Investors intelligence numbers analysis need only look at yearend 1974 and into 1975 for detailed analysis. Also, II numbers stayed extremely high in the mid to late 80s even after the 87 crash as a brief bullish reading respite soared back to extreme high bullish readings as the market climbed a wall of worry to continuous new highs.

Best Regards, J.T.
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