Figure 1. S&P500/ Rydex Leveraged Bull v. Leveraged Bear/ daily
Figure 2 is a daily chart of the S&P500 with the amount of assets in the Rydex Money Market Fund in the lower panel. The current value is the lowest value since the rally began in March, 2009. While all of this is short term noise, it is absolutely amazing that there would be this much commitment to the market after a 60% plus run in the S&P500.
Figure 2. S&P500 v. Rydex Money Market/ daily