This is Turov on Timing for Friday, August 5, 2011.
A very good day for TOT daily traders as the SPX declined 60.27 points yesterday to close at 1200.07. TOT daily traders went 300% short at SPX 1234.38 at 10:45 a.m. and covered the short profitably on the 1200.07 close. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12483.16 cumulative SPX points, compared to a gain of 741.14 points in the index itself over the same period. That’s a ratio of 16.84 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.
I’m embarrassed to say so, but the Intermediate Term Model remains bullish.
Because of the pending pre-opening jobs report Friday morning, I have decided to remain on the sidelines for the nonce. I’ll have an interim email message sometime this morning.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
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