This is Turov on Timing for Friday, August 18, 2006.
The SPX advanced 2.05 points yesterday to close at 1297.48. 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 8962.04 cumulative SPX points, compared to a gain of 838.55 points in the index itself over the same period. That’s a ratio of 10.69 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.
The daily model is ever so slightly bullish today, calling for a minimal 100% long position. Considering it’s options expiration, and we are so close to the SPX 1300 psychological resistance area where a good deal of program selling might come in, and it’s just a minimal signal, I’m going to override the signal and suggest staying on the sidelines.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again in 72 hours.
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.