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

To: J.T. who wrote (5300)	11/25/2000 1:54:48 AM
From: J.T.	Read Replies (3) \| Respond to of 19219

Rydex Total Assets Update for Friday, November 24th: Regular Series: SPX Long - NOVA 416.5 Million SPX Short- URSA 264.5 Million NDX Long - OTC 2,292 BILLION NDX Short- Arktos 111.8 Million XAU Precious Metals 26.1 Million Biotechnology 598 Million Money Market 1.250 BILLION ******************************************* Dynamic Series (200% correlation) SPX Long - TITAN 58.7 Million SPX Short- TEMPEST 9.0 Million NDX Long - VELOCITY 94.6 Million NDX Short- VENTURE 28.2 Million ******************************************* 1)More than anything else, the dynamic daily sentiment pulse of the market as measured by rydex is legitimized and validated in showing Wednesday's capitulation in total assets and today's rocket launch off the bottom into orbit. I did not know going long into the bell Wednesday how much the long funds were going to capitulate. In fact, it was much more than I had anticipated. And today's cool 6.1% gain in NDX and 1.5% gain in SPX is just for starters. The Bears are going to get pounded in this counter-trend bounce into next week. Why? 2)NDX Long OTC still below 2.4 Billion TA and NDX Long TITAN remained relatively constant. In other words, the large specs don't believe today's rally was real- or they just wanted to get away from the market for the day after Wednesday's bludgeoning. Early bird going long gets the worm. Also, NDX Short Arktos actually increased almost 10 million in this melt-up and this is quite significant. Typically any melt-up in this short fund has immediate shrinkage and today it did not happen. To confirm this, NDX Short TEMPEST did not shrink in total assets like it usually does in these melt-up situations. Dynamic fund switchers typically move in white lightning fashion and today they slept in from eating too much turkey. 3)SPX Long and short funds tell the same story and there is much room for elasticity in growth of long assets - NOVA above 500 mill minimum and TITAN back to 85+ mill. Today NOVA is at paltry 417 mill and TITAN at 59 mill. The endgame is near in the election and President Bush is going to be the victor and the market smells it. It will be buy the rumor (imminent Bush victory), and sell into the quick honeymoon (after he is declared king). I would say within 1 week after he is validated President sell into strength. I will remain Long 50% each NDX and SPX until further notice. Best Regards, J.T.