Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (35489)	10/7/2000 8:24:26 AM
From: Softechie	Respond to of 56535

Yes JT analysis is right on. If we can make it through October without breaking 3000 then we'll be OK but the bears won't give up without a fight. Again, I reitterate, In October '98 Rydex SPX URSA Short assets were greater than SPX Long NOVA total assets and the "invested money" was fighting the primary trend on the way up in the midst of the correction. Now, in Oct '2000, the money is fighting it on the way down as the money continues to play long in the face of lower lows booked on SPX.. This spillover effect will be quite pronounced in NDX if NDX breaks the psychological NDX 3,000 level on a close... NDX closed at NDX 3,312 today... It came close to breaking NDX 3,000 close on May 23 when NDX closed at NDX 3,023 and NDX Long OTC total assets booked 2,477 BILLION total assets. This is the magic number for the hard break..