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

To: J.T. who wrote (5343)	11/29/2000 7:36:21 AM
From: David Lee Smith	Read Replies (1) \| Respond to of 19219

Great posts J.T. I will be updating my model about 12 EST today before re-establishing my Pro-Funds Ultra Bear position. I have been in cash since I sold them. I must admit that your bullish posts have me nervous as my model has been poor at key turning points...works better in a trend. However, I will make that decision based on today's action.

To: J.T. who wrote (5343)	11/30/2000 12:55:44 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

Rydex Total Assets Update for Wednesday, November 29th: Regular Series: SPX Long - NOVA 422.8 Million SPX Short- URSA 268.8 Million NDX Long - OTC 2,086 BILLION NDX Short- Arktos 116.0 Million XAU Precious Metals 37.9 Million Biotechnology 570 Million Money Market 1.418 BILLION ******************************************* Dynamic Series (200% correlation) SPX Long - TITAN 80.8 Million SPX Short- TEMPEST 15.6 Million NDX Long - VELOCITY 98.6 Million NDX Short- VENTURE 32.3 Million ******************************************* Lookie what we have here. Now we are getting the early dogs out of the blocks with negative pre - pre-announcements that revenues are going to come up short in GTW, ALTR and GAP for the upcoming quarter. And a downside gap open tomorrow morning as sure as the light of day follows the night. I thought we would at least have one more week stay of execution from these pre-announcements - but corporations and wall street anal-ists are in a cover your @ss mode and want to get it out right away with any whiff of bad news or downgrades for fear of investor class action lawsuit hanging over their heads for lack of full or forthright disclosure. Certainly we will get this capitulation in the morning; but we need to see what type of bounce materializes (healthy or dead cat)once the first panic wave of selling for the exits exhausts itself in the first hour or two. Ideally, massive volume on this morning downdraft with that grizzly Bear sh!tin all over the woods until it poops out. Selling dries up and the Bulls come in and pick up the pieces at the double discount day sale. We need to see 300+ new lows in the NYSE and 800+ new lows in the Nasdaq to know capitulation is in the offing. I would like to see minimum 7 to 1 Decliners over advancers in the NYSE to confirm this hot and bothered selling wave is near completion. Today, on the plus side of the equation, the DOW, SPX and BKX booked positive closings in a sea of red and even the NDX and COMP managed to trim mid-day losses to manageable levels. Key for me is BKX holding BKX 774 at the close. Today BKX closed at BKX 823.30 up 25 points. We have good elasticity and as long as we hold BKX 774, then SPX should hold above SPX 1,300 level. SPX closed up 6 to SPX 1,342. One close below BKX 774 and I will head for cover potentially into XAU which had a healthy pullback today. The economy is clearly slowing and the dollar has lost its luster - gold (xau) au contrare? Still Long 50% SPX and NDX respectively. Best Regards, J.T.