The market is putting in a mixed performance with the Dow down about 1/10 of a percent and the SPX up about 2/10 of a percent. All TIG managed accounts and all followers of Turov on Overnight Possibilities are long TLT (currently up about 4/10 of a percent), the US Government Long Bond ETF, or the equivalent Rydex US Government Long Bond fund.
I wasn’t planning to update intraday today because the SPX-based TOT is on the sidelines, but I wanted to give you a “heads-up” on Monday: While the first day of the month has a strong bullish bias, the first day of October is one of the weakest “first days” of the year. Unrelated to that historical fact, the preliminary daily model for Monday looks like it will either be bearish or neutral, and the index models are slightly negative. So, for any readers who “automatically” go long on the last day of the month in anticipation of the first day of the month, this email is simply a cautionary caveat.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again prior to the start of Monday’s trading session.
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