This is Turov on Timing for Friday, August 10, 2012.
The SPX advanced 0.57 points yesterday to close at 1402.79. TOT daily traders went 300% long at SPX 1403 and have held the position overnight and into today. Yawn….
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13234.23 cumulative SPX points, compared to a gain of 943.86 points in the index itself over the same period. That’s a ratio of 14.02 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 to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bearish. I expect to see SPX 1350 before SPX 1450).
However, the daily model is bullish today – but I don’t expect to see the potential for fireworks in the early going (sans news, of course). However, if the SPX is able to reverse expected early morning weakness and be in positive territory at 10:45, then we could see a powerful rally going into the close.
TOT daily traders come into today’s session 300% long. Maintain the protective sell stop on the position at SPX 1388.97. If the SPX is up on the day at 10:45 a.m., go an additional 100% long at the market at that time. Furthermore, if the NASDAQ 100 is ALSO up at that time, make it an additional 200% instead of 100%. That would bring us up to a TOT maximally bullish 500% long position. If the SPX is up on the day at 10:45 and you have therefore gone additionally long at that time, raise the protective sell stop on the position to 1% below the 10:45 price.
Thanks for the opportunity to be of service, and I’ll update again sometime during today’s trading session.
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.