Profunds index and sector trading

[Z-M-L]

The NDX moved HIGHER today and closed right on the HIGH for the day at 1508.37. The (.786) retracement, of the entire decline from January 20th to March 24th, is 1518.91. However, Wave 2 of “any” Degree is the “only” position in the Elliott Wave Pattern that can retrace “upto” 100% of the previous Wave 1 and still be considered nothing more than a Wave 2 correction. The corrective a-b-c nature of this rally, over the last eight to nine trading days, is much clearer in the DJIA and in stocks like IBM, GM, GE, HPQ, MSFT and others.

The “boys” may hold the markets UP through this Thursday to keep everyone nice and Bullish over the long weekend; before they continue their larceny of the public.

So we wait until one of two possible outcomes emerges:

1) Upon a NDX move above 1560, I will take a position in the Rydex Velocity (RYVYX) Fund.
2) Upon a NDX move below 1430, I will take a position in the Rydex Venture (RYVNX) Fund.


Currently, I have a CASH position since 04/02/04 within the Aggressive Portion of the portfolio; while the Conservative Portion of the portfolio has been in Cash or Cash equivalents since 01/02/04.