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

To: J.T. who wrote (12791)	6/15/2002 1:04:38 AM
From: J.T.	Read Replies (3) \| Respond to of 19219

Rydex Total Assets Update for Friday, June 14th, 2002: ************* Money Market 1.761 BILLIONBULLISH Triple Overbought Near All Time Highs ************* Regular Series: (100% Correlation to Index (Nova 150%)) SPX Long - NOVA 187.0 MillionBULLISH Triple Oversold SPX Short- URSA 334.8 MillionBULLISH Double Overbought NDX Long - OTC 560.3 MillionBULLISH Triple Oversold Lowest close since October 1998 NDX Short- ARKTOS 145.5 MillionBULLISH Double Overbought ********** Dynamic Series: (200% correlation to Index) SPX Long - TITAN 74.6 MillionBULLISH Double Oversold SPX Short- TEMPEST 215.6 MillionBULLISH Double Overbought NDX Long - VELOCITY 128.6 MillionBULLISH Double Oversold NDX Short- VENTURE 224.7 MillionBULLISH Double Overbought Sector Funds: XAU Precious Metals 69.4 MillionBULLISH Double Oversold XOI Energy 22.7 MillionBULLISH Triple Oversold OSX Energy Services 25.0 MillionBULLISH Quadruple Oversold BKX Banking 30.1 MillionBULLISH Double Oversold BTK Biotech 136.5 MillionBULLISH Quadruple Oversold Near New 3 1/2 Year Low RUT 2000 - MIKROS 41.9 MillionBULLISH Quadruple Oversold RLX Retail 19.7 MillionBULLISH Triple Oversold Telecommunications 9.8 MillionBULLISH Oversold SOX Electronics 50.2 MillionBULLISH Double Oversold ******************************************* The Bears had their last chance. Three strikes and ur out. Guess what happened? They just struck out. You see, I maybe a fool to hold onto my Rydex long positions. But if I am a fool than so is the author of elliott wave and all his followers who has been screaming bear market since DOW 3,000 and holding on all the way up for the crash.. Or is that DOW 2,400 expecting it to go to 400? He has not changed his Bearish stance in the greatest Bull market in all of history. And what does that say about those that espouse elliott wave as the one true market mantra .... they can join me as a fool. Truth be told, only time will tell who is right. If the DOW goes on to new highs and reaches DOW 13,000 and beyond will the Bears have been right? If COMP heads back above COMP 3,000 in 2003 those that laugh and mock now will they have been right? And will I have been a fool for holding out? Takes one to know one. I have never acclaimed to be a daytrader. If I was a day trader I would trade futures. I don't. Never have. But for those who are daytraders most would have been whipsawed bigtime in the futures market today. That is why many so called traders who try to trade futures quit because the leverage magnifies the loss in minutes. My leverage is in Rydex Funds and I am down big but I see what is coming dead ahead and it ain't gonna be pretty for the Bears. I am a position trader who got trapped on the wrong side longer than I wanted or expected but the hostage ride is over. While bears were out in full army cyberforce saying how big a fool the Bulls are, I was busy buying the tank job today in numerous stocks and long term options. Thanks for the discounts. No tips here. As for mensa Prechter, we all know he wrote the book Tidal Wave and published it in 1995 expecting a crash. What did we get? A Melt-Up. Now he has a new book that is just out in 2002 called Conquer the Crash. Will he be wrong at the worst possible time again? The DOW, after hitting an intraday low of DOW 9,260.99 down over 240 points, reversed like a champ and closed above the critical DOW 9,450 support target I posted last night which is the 21 day 3 1/2% exponential trading band. The DOW closed down a paltry 28 to DOW 9,474.21. The SPX, after an intraday low of SPX 981.63 down 28, it reversed and clawed its way back to close down 2 points to SPX 1,007.27. This double bottom close right below my SPX 1,016 - 1,018 band I will consider a successful bottom test if SPX closes back into or above this band on Monday. If it falls short of this band on Monday I will consider it a failed test. Notice how I said BKX needed to get back above BKX 835 in last nights update. Today at the intraday lows, BKX was down over 20 to BKX 801.91 and reversed and led the charge back out of the hole to close up 7 for the day to BKX 830.49. The intraday high today was BKX 834.31. Had it taken out and closed above BKX 835 the DOW and SPX would have both finished in the green today. Notice the worm turn in the techs. Biotech BTK has led COMP the last two days and now COMP and NDX closed in the green today. The market is simply groping for a higher bottom. The Bear may have exhausted his last desperation assault today to take the market lower to no avail and now next week belongs to the BULLS. We may have witnessed the the four year cycle low yesterday and today, June 13th and June 14th 2002 respectively, as a new Bull gets launched to the moon. Thanks for the discounts Mickey. Onward and upward we go. Look UP. Regular Series: 100% Long NDX OTC Dynamic Series: 100% SPX Long TITAN Best Regards, J.T.