This is Turov on Timing for Friday, April 8, 2011.
A good day for the home team as the SPX declined 2.03 points yesterday to close at 1333.51. TOT daily traders went 300% long near the low of the day at SPX 1327.76 and sold out on the close.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12392.30 cumulative SPX points, compared to a gain of 874.58 points in the index itself over the same period. That’s a ratio of 14.17 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, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bullish.
It is unfortunate that I’ve been having internet problems (*) because I was unable to transmit a late session intraday message advising you to hold on to positions overnight because the daily model was preliminarily bullish for today. Sorry, but that was out of my hands.
The daily model is bullish today. That makes me a bit nervous inasmuch as Fridays have historically been the weakest day of the week over the past two decades. Nevertheless, the signal is clear. TOT daily traders are advised to reestablish the 300% long position at SPX 1334 stop or at SPX 1330 limit, whichever comes first. Once long, use a 10 point protective sell stop on the position until 10:45 a.m. At that time, if the stop is within 2 points of the extant price, maintain the stop. If it is more than 2 points from the extant price, raise the stop to 2 points below the extant price. If still long as we approach the close, sell the position on the close and go into the weekend flat.
* It APPEARS that the internet problem has been solved.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Monday’s session – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2011 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.