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

To: J.T. who wrote (12273)	5/14/2002 11:52:34 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

Rydex Total Assets Update for Tuesday, May 14th, 2002: ************* Money Market 1.377 BILLION *********** Regular Series: (100% Correlation to Index (Nova 150%)) SPX Long - NOVA 250.8 MillionBULLISH SPX Short- URSA 283.5 MillionBULLISH NDX Long - OTC 708.2 MillionBULLISH NDX Short- ARKTOS 125.7 MillionBULLISH ********** Dynamic Series: (200% correlation to Index) SPX Long - TITAN 177.4 Million SPX Short- TEMPEST 171.3 MillionBULLISH Overbought NDX Long - VELOCITY 196.9 MillionBULLISH NDX Short- VENTURE 203.5 MillionBULLISH Overbought Sector Funds: XAU Precious Metals 89.8 MillionBEARISH XOI Energy 37.1 MillionBULLISH OSX Energy Services 85.5 MillionBEARISH BKX Banking 77.3 Million BTK Biotech 183.2 MillionBULLISH Double Oversold RUT 2000 - MIKROS 123.0 MillionBULLISH RLX Retail 64.8 Million Telecommunications 7.5 MillionBULLISH ***************************************** I am keeping my mouth shut. I have posted all I need to say. Let the market do the talking. Market Wrap-Up from Bloomberg: U.S. Stocks Rally as Retail Sales Surge; Wal-Mart Advances By Perri Colley McKinney New York, May 14 (Bloomberg) -- U.S. stocks rallied for a second day as a surge in retail sales and higher profits at merchants including Wal-Mart Stores Inc. and J.C. Penney & Co. shored up confidence in an economic rebound. Intel Corp. led a jump in semiconductor shares after Robertson Stephens Inc. raised its rating on the biggest chipmaker and investors anticipated better-than-forecast earnings from Applied Materials Inc. after exchanges close. ``You're going to see profit performance that will surprise across a lot of industries,'' said Gary Motyl, who oversees $25 billion as chief investment officer of Templeton Institutional Global Equities. ``Third-quarter earnings should start to look decent -- fourth-quarter, definitely.'' The Standard & Poor's 500 Index rose 22.72, or 2.1 percent, to 1097.28. Retailers and technology stocks made up more than half the advance. The Dow Jones Industrial Average climbed 188.48, or 1.9 percent, to 10,298.14. The Nasdaq Composite Index increased 66.51, or 4 percent, to 1719.05. Gains the past two days helped the S&P 500 trim its loss for the year to 4.4 percent from 9 percent Friday. The decline reflects investor concern an economic rebound will be too weak to lift spending by businesses on new equipment. Retail Sales Surge The government's retail sales report revived confidence consumers will bolster an earnings turnaround. Sales surged 1.2 percent in April, double the rise anticipated by economists surveyed by Bloomberg. Consumer spending accounts for two-thirds of the economy. ``The economy seems to be in better shape than what people were looking at a few weeks ago,'' said Owen Fitzpatrick, who manages $7 billion as head of U.S. Equities at Deutsche Bank Private Banking. Some 1.4 billion shares traded on the New York Stock Exchange, 7 percent more than the six-month daily average. More than two stocks rose for every one that fell on the Big Board and the Nasdaq Stock Market. About 2.45 billion shares traded on the Nasdaq. WorldCom Inc. had the most active day for a U.S. stock. About 647 million of its shares changed hands as the second-largest U.S. long-distance phone company plummeted 20 cents to $1.24. Standard & Poor's removed the company from the S&P 500 today. Apollo Group Inc., the owner of the University of Phoenix that is replacing WorldCom in the index, rose 91 cents to $37.56. Wal-Mart Climbs Wal-Mart climbed $2.35 to $57.39. The world's biggest company by sales had its best one-day gain in seven months after reporting first-quarter earnings rose 20 percent. The 37-cent a share profit exceeded analysts' expectations by a penny. J.C. Penney rose $1.69 to $24.89 after the second-largest U.S. department-store chain said net income more than doubled. Other retailers gained on reports their earnings climbed. Zale Corp. jumped $3.15 to $43.80 after the top North American jewelry retailer said third-quarter profit more than doubled. OfficeMax Inc. gained $1.27 to $7.75 as the office-supplies retailer posted a first-quarter profit after two years of losses. Intel climbed $1.63 to $30.15. Eric Rothdeutsch, an analyst at Robertson Stephens, said demand for PCs will increase in the second half and advised clients to buy shares of the company whose chips power more than eight in every 10 machines. Rothdeutsch also said Intel likely won't cut prices on its desktop Pentium 4 chip in the coming quarter. That would be the first quarter without a price cut since 1996. Applied Materials Earnings The Philadelphia Semiconductor Index surged 6.3 percent and all 17 members gained. Investors said expectations Applied Materials would top the 2 cents per share estimate triggered a rally in technology stocks. The company reported a profit of 3 cents a share. Applied Materials, the world's biggest semiconductor-equipment maker, advanced $1.06 to $26.64. Microsoft Corp., the largest software maker, jumped $2.19 to $54.88. Earnings for consumer cyclical and technology companies are expected to have the strongest growth. Analysts expect profits in these industries to jump 34 percent this quarter, according to Thomson First call. Still, analysts have tempered expectations. Earnings for companies in the S&P 500 are expected to rise 6.8 percent in the second quarter and 39.8 percent in the fourth quarter. That's below forecasts six weeks ago, when analysts anticipated profits would gain 8.8 percent this period and 41.5 percent in the last three months. ``I continue to be quite concerned with regard to consumer balance sheets and corporate profitability,'' said Richard Goldman, who oversees $5 billion as head of equities at Guardian Life Insurance Company of America. He has bought shares of AmerisourceBergen Corp. and Laboratory Corporation of America Holdings. Deere Jumps Deere & Co. surged $3.17 to $45.70. The largest tractor maker said fiscal second-quarter earnings increased 11 percent and revenue increased. Caterpillar Inc., which makes agricultural and forestry machinery, rose $1.49 to $54.24. News Corp. rose $2.07 to $28.45. Sales rose 18 percent and the company raised its profit forecast. The media company controlled by Rupert Murdoch lost $3.99 billion in the fiscal third quarter after writing down the value of its stake in Gemstar- TV Guide International Inc. Murdoch told analysts film revenue rose more than expected and advertising at the Fox television stations are improving after 18 months of declines. AOL Time Warner Inc. jumped $1.20 to $18.55, and Walt Disney Co. surged 95 cents to $24.40. The Russell 2000 Index of small-cap stocks jumped 12.00, or 2.4 percent, to 511.72. The Wilshire 5000 Total Stock Market Index, the broadest measure of U.S. shares, climbed 219.82, or 2.2 percent, to 10,410.30, adding $253 billion in market value. *********************** Regular Series: 100% Long NDX OTC Dynamic Series: 100% SPX Long TITAN Best Regards, J.T.