This is a 4:10 p.m. (after the close) update of Turov on Timing for Wednesday, November 7, 2012.
Please read carefully as this email contains a change in the previously mentioned TOT email update schedule.
A very good day for the home team as the SPX declined 33.86 points today to close at 1394.53. TOT daily traders went 200% short at SPX 1421 on Monday and covered the position with a big profit very near the low of the day today at SPX 1390. This follows a large profit on the long side last week. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13463.89 cumulative SPX points, compared to a gain of 935.60 points in the index itself over the same period. That’s a ratio of 14.39 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then). When the current cyclical bull market ends (and at present, my best educated guess is that it has not ended, but it will end later this year or early next), expect another nasty crash – which may be an extended slide – to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bearish, and no change in the model is possible this week. I expect to see the market make a feeble attempt over the next week to move above and hold the SPX 1400 level – but to fail. Turov on Timing Intermediate Term Model traders should stay short.
It is already clear that the daily model will be neutral tomorrow, Thursday, as a result of a combination of preliminarily conflicting component indicators, plus an already visible very high risk component. TOT daily traders should stand aside Thursday.
Thanks for the opportunity to be of service, and I’ll update again FRIDAY MORNING AT 9:00 A.M. EASTERN TIME.
Turov on Timing is Copyright © 2012 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. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.