This is Turov on Timing for Friday, April 29, 2011.
The SPX advanced 4.82 points yesterday to close at 1360.48. TOT daily traders went 300% long at SPX 1353.86 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 12400.99 cumulative SPX points, compared to a gain of 901.55 points in the index itself over the same period. That’s a ratio of 13.76 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.
The market does not look good to me today, despite its being the last day of the month, historically a strong day. TOT daily traders come into today’s session 300% long. Raise your stop to a very tight SPX 1359.77. If the SPX rises to 1364 before 1359.77 is hit, take your profit there instead. If neither level is reached prior to 10:45, take your profit at 10:45.
Also at 10:45, go 400% short at that time. Use no stop on the short position, although I will be watching the market carefully, and if I think a stop becomes warranted, I will update with an intraday message at that time.
If there is no intraday update prior to the close, cover the short AND simultaneously go 200% long on the close, carrying that 200% long position over the weekend and into Monday.
And with that in mind, 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.