This is Turov on Timing for Friday, August 11, 2006.
The SPX advanced 5.86 points yesterday to close at 1271.81 in almost a precise reversal of Wednesday’s decline. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8992.04 cumulative SPX points, compared to a gain of 812.88 points in the index itself over the same period. That’s a ratio of 11.06 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
Both the long and short term models remain neutral, although they are significantly improving.
Many of the component indicators of the daily model are rip-roaringly bullish. Others are rip-roaringly bearish. Indeed, it’s unusual for so very many components to be SHOUTING different signals. To use words NEVER used by any of my competitors, “I don’t have a clue what the market is going to do today.” That’s honesty as brutal as it gets! The daily model is neutral today, and today seems like a good day to discover whether the trout are biting! Stand aside and start the weekend early.
HOWEVER, please note that if both the SPX and the NYSE advance/decline ratio are positive on the close today, it is a 100% certainty that the directional component of the daily model will be bullish on Monday, and independently thinking subscribers might want to jump the gun and go long on the close – but officially we will go into the weekend flat.
Thanks for the opportunity to be of service, and I’ll email you again in 72 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2006 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.