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

To: J.T. who wrote (8416)	8/24/2001 4:06:42 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 19219

Looks like we had a very strong rally after the bell yesterday, I expect a strong gap up when we open and short covering to kick in. How far it will go I don't know except it's likely going to shake the shorts up good before it quits ( if the dollar index holds at 113 or climbs some) --------- Jim PS Still need to do some catching up on my spread sheet. Been very busy lately..Still holding a good chunk of UOPIX , & wish I had added more yesterday.

To: J.T. who wrote (8416)	8/25/2001 11:47:45 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

Rydex Total Assets Update for Friday, August 24th, 2001: Regular Series: SPX Long - NOVA 283.7 MillionBULLISH SPX Short- URSA 226.6 Million NDX Long - OTC 1.026 MillionBULLISH NDX Short- Arktos 75.2 Million XAU Precious Metals 71.9 MillionBEARISH Banking 73.4 Million Biotech 353.6 Million Money Market 1.200 BILLIONNeutral ***************************************** Dynamic Series (200% correlation to Index) SPX Long - TITAN 119.0 Million SPX Short- TEMPEST 71.6 MillionBULLISH NDX Long - VELOCITY 165.0 Million NDX Short- VENTURE 94.2 MillionBULLISH - Near all time high since July 10th ******************************************* In a melt-up trading day one needs to focus not so much on the MM TA component, but the activity going on in the Short Funds - specifically in this case, the NDX Short ledger side of the account. Look at double your pleasure NDX Short VENTURE TA. NDX was up 5.52% yesterday as it closed at NDX 1579 up 82 points, and Short VENTURE TA increased. This is baffling and extremely BULLISH. Supposed smart money is betting Friday was a one day wonder and that we will head right back down on Monday. Also, the slower moving stochastic sentiment measure the NDX Long OTC showed no major increase in TA. Money is skeptical, and this is the necessary witches brew needed to take us higher with back to back follow thru. It now becomes looking at blocks of trading days vs day to day events. It will now be 2 out of 3 days UP or 4 out of 6 days UP with the down days enough to keep the Bears dejected but remain in the game at the same time. SPX crossed the finish line strong and confirmed with NDX the day was no fluke. SPX closed up 2% to SPX 1,185 up 23 above important resistance at SPX 1,183.50 the Aug 8/9 close.. The table has turned. The Bull is now in the driver seat into September. We will get follow thru next week and beyond as the rally has finally commenced. Clear the paths- the Bull is running. Lead, follow, or get out of the way. Regular Series: 100% Long NDX OTC Dynamic Series: 100% Long SPX TITAN Best Regards, J.T.