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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (5161)	11/1/2000 1:45:49 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

Rydex Total Assets Update for Tuesday, October 31st: Regular Series: SPX Long - NOVA 545.9 Million SPX Short- URSA 248.4 Million NDX Long - OTC 2,746 BILLION NDX Short- Arktos 104.0 Million XAU Precious Metals 27.0 Million Biotechnology 697.1 Million Money Market 1,027 BILLION ******************************************* Dynamic Series (200% correlation) SPX Long - TITAN 109.2 Million SPX Short- TEMPEST 10.5 Million NDX Long - VELOCITY 173.1 Million NDX Short- VENTURE 31.6 Million ******************************************* 1)SPX NOVA/URSA now comfortably above 2 X 1 ratio, and this needs to assault 3 X 1 long over short back to back for another significant top to materialize. Maybe not as far away as one would think. Notice also we have had 2 closes below 250 million on SPX Short URSA. BEARISH. 2)Look how fast Money Market closes in on this 1 Billion level and compare to the last 2 weeks... 2 closes below 1 Billion and head for the exits on the long side.. Money is moving faster than the speed of light and with increasing violent ferocity. 3)Dynamic SPX and NDX Long Series is piling heavy on the Long end and this is BEARISH as hell. SPX Long TITAN is the equivalent of the large speculators betting heavily long the SPZ Futures contract via the COT Report. Basically taking the opposite position as the smart money commercials. Short end down to 10 million on SPX TEMPEST... In short, I am looking for this rally to continue but am narrowing this window to Thanksgiving. Look for one close above NDX 3,580 and SPX 1,440... and then another pullback... Another rally (will update this rally bounce later) and then DOWN hard...... DOW has the chance for token new highs b/w DOW 11,750-12,000 between now and early December... Beyond that, no visibility going forward into 2001. Must look underneath the evidence and sentiment figures, combined with increasing massive short position of commercials via the COT Report...It will all catch up to the Bulls... Never bet on large specs... they always get it wrong. Bulls get their party to be sure, but the cost will be high once the money gets all hot and bothered buying hand over fist over the next several weeks.. Must think au contrare. There will be no Santa Claus rally in December imho once the numbers are calculated out at the end of the month. Enjoy this rally going into November while it lasts... I will update individual issues positions and target prices over the next day or so. Still 50% Long SPX URSA and 50% Long NDX OTC. Best Regards, J.T.