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

To: J.T. who wrote (15059)	11/12/2002 10:55:28 AM
From: yard_man	Respond to of 19219

>>The market is doing the exact opposite from July as witnessed by July 5th semi-holiday melt up action on anemic rally only to be sold.<< Interesting obs ...

To: J.T. who wrote (15059)	11/12/2002 11:28:33 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

Rydex Total Assets Update for Tuesday, November 12th, 2002: ************** Money Market 1.598 BILLION *********** Regular Series: (100% Correlation to Index (Nova 150%)) SPX Long - NOVA 207.2 Million SPX Short- URSA 422.7 Million NDX Long - OTC 534.4 Million NDX Short- ARKTOS 150.1 Million ********** Dynamic Series: (200% correlation to Index) SPX Long - TITAN 176.4 Million SPX Short- TEMPEST 328.9 Million NDX Long - VELOCITY 214.0 Million NDX Short- VENTURE 308.5 Million ********* Sector Funds: XAU Precious Metals 71.5 Million XOI Energy 19.7 Million OSX Energy Services 45.2 Million BKX Banking 19.7 Million BTK Biotech 165.7 Million RUT 2000 - MIKROS 52.1 Million RLX Retail 35.1 Million Telecommunications 45.2 Million ***************************************** Today was rope a dope day of the highest order. Tonight's Rydex numbers confirm it. All four short funds increased on an up day. Bears should be sweating bullets. The DOW (thanks MO) and to a lesser extent the SPX mesmerizes the masses giving up significant intraday high gains late in the day while the COMP/NDX and broad market advances smartly. It keeps FUD at the forefront while the market works higher in stealthlike fashion. This is what bull market action is made of. Watch the advance uncoil higher now. 5 day RSI levels all below neutral and have much higher to launch before we see double and triple overbought levels in this volcanic melt-up thru end of November. BKX closed up 11 to BKX 743.83. BKX will now breakout, assault and take out BKX 780 back to back closes in this launch dead ahead for the first time since August 29/30 (BKX 783/786) closes. BKX the bodyguard for SPX as shorts get squeezed. SPX 960 this intraday high target in this leg up as we close today at SPX 882.95 up shy of 7. DOW closed up 27 to DOW 8386 from DOW 8504 intraday high.. COMP 1426, which was held at bay last week to keep the Bears in the game is now gona get steam rolled in this leg up. COMP closed up 30 to COMP 1349.56. COMP 1,500 intraday high in this melt-up is now on the radar screen of the heat seeking missile. Best Regards, J.T.