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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (49786)	5/8/2000 2:23:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Jim, one of the indicators i watch for giving clues about actual sentiment as opposed to polled or anecdotal sentiment, is the Rydex ratio. on Friday it came in at 0,11 which is only 0,03 away from fresh all time lows. so even though various polls of futures trading advisors and even AAII have recently seen people express more caution, the place where actual money gets bullishly or bearishly positioned shows that there's still a lot of optimism in the market place. i wonder what it would take to get the Rydex ratio back to oversold conditions which were last visited in October '99. thus far this year the ratio has remained in extremely low territory regardless of the market's gyrations. btw, 'oversold' in this case did not mean extremely oversold. that was last seen in '98 when at times the bearish Rydex funds had twice the assets of the bullish ones (a ratio of 2,0 as opposed to 0,11 now). regards, hb