Wednesday, June 09, 2004

NOTE:  We are STILL having issues with being able to update not only the intraday charts, but also the regular daily charts on the site.  Our technical team is working on the issue and hope to have it resolved this morning.  We apologize for downtime. 10:15:53 AM

In the "this is not good" department, Rydex traders shifted a huge amount of money our of the bearish funds.  Over $100 million was pulled from the short-side funds, which is one of the largest movements in the past few years, particularly so with the very small gain in the broader market yesterday.  This shows that these traders are expecting further upside in the short-term, and is a decent hint that that may be precisely what DOESN'T happen. 9:10:10 AM