This is Turov on Timing for Friday December 18, 2009.
The Standard & Poor’s 500 Index (“SPX”) declined 13.1 points yesterday to close at 1096.08. TOT daily traders went 300% long at SPX 1106 and were stopped out at SPX 1098.09 as the plethora of negative news, both prior to the opening and shortly thereafter, was too much for the market to overcome.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11180.45 cumulative SPX points, compared to a gain of 637.15 points in the index itself over the same period. That’s a ratio of 17.55 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 bullish.
The daily model is bullish today. TOT daily traders are advised to go 300% long at SPX 1097 stop or at SPX 1092 limit, whichever comes first. Once you go long, use a 1% protective sell stop on the position.
Thanks for the opportunity to be of service, and I’ll email you again 10 minutes before the close of trading today – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2009 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.