Did you ever sleep in a bear pit
With apple cores and mice along?
Did you ever lay on ice and grit
Or search for a place where the wind was gone?
--Pete Townshend
Analysis of Rydex asset levels. The Rydex Asset Ratio ((Bear assets+ MMF assets)/Bull assets) is at a 10 year high. Bearish assets are at a 10 yr low.
Historically, high points in the Rydex Asset Ratio have decent correspondence with market tops.
position in SPX
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I accepted everything for what it was-not what I wanted it to be.
~Nicolas Darvas
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