This is Turov on Timing for Friday, December 11, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 6.41 points yesterday to close at 1102.35. TOT daily traders went 300% short on the opening 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 11174.63 cumulative SPX points, compared to a gain of 643.42 points in the index itself over the same period. That’s a ratio of 17.37 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2011 or 2012. But we’re certainly not at that point yet.
The Intermediate Term Model remains bearish, but not by much. There’s a pretty good chance that the Model will reverse itself within a few days or so
The daily model is bullish today. TOT daily traders are advised to reverse their 300% short position and go 300% long at SPX 1104 stop or at SPX 1101 limit, whichever comes first. If and when you go long, use a 1% sell stop on the position.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of tomorrow’s session – or sooner if circumstances warrant.
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