This is Turov on Timing for Wednesday, December 13, 2006.
The SPX declined 1.48 point yesterday to close at 1411.56. TOT daily traders went 200% short at SPX 1410.50 and have held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8860.72 cumulative SPX points, compared to a gain of 952.63 points in the index itself over the same period. That’s a ratio of 9.30 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
Both the long and short term models remain neutral.
The daily model is bearish today. TOT daily traders come into today’s session 200% short. Maintain the position and the buy stop at SPX 1420.50 stop. If not stopped out, carry your position overnight and into tomorrow.
As I said yesterday, if the market cannot start moving lower by the close of trading on Thursday, then the odds increase significantly that it won’t anytime soon.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
Turov on Timing is Copyright © 2006 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. All caveats and advisories that appear in the monthly Turov on Timing apply equally to this email. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc.