This is a 3:50 p.m. intraday update of Turov on Timing for Friday, December 4, 2009.
The Standard & Poor’s 500 Index (“SPX”) declined 9.32 points yesterday to close at 1099.92. TOT daily traders went 300% short at SPX 1113 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 11249.31 cumulative SPX points, compared to a gain of 640.99 points in the index itself over the same period. That’s a ratio of 17.55 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2011 or 2012. But we’re certainly not at that point yet.
The Intermediate Term Model remains bearish.
The early going today should see the market continue lower (in the absence of substantive positive news), but the later going is less certain. TOT daily traders come into today’s session 300% short. Lower your stop to SPX 1108. If the SPX declines to 1095, lower your stop further to SPX 1102. At 10:45 a.m., if the stop is more than 2 points away from the 10:45 price, lower the stop further yet to 2 points above the next higher round number. So for example, if the SPX is at 996.40, the new stop would be SPX 999. Subsequently, for each additional 2 point decline, lower the stop by an equivalent 2 points. In the unlikely event that you are not stopped out, carry the position over the weekend and into Monday.
And with that in mind, thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Monday’s trading session – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2009 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.