This is Turov on Timing for Friday, December 22, 2006.
The SPX declined 5.23 points yesterday to close at 1418.30. TOT daily traders went 200% long at SPX 1424.30 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 8820.10 cumulative SPX points, compared to a gain of 959.37 points in the index itself over the same period. That’s a ratio of 9.19 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. A major overhaul of these models will be announced and described on the next message, including a commentary on how these changes will impact the daily model.
The daily model is modestly bullish again today. TOT daily traders come into today’s session 200% long. Go an additional 200% long at SPX 1419.30 stop. Use a protective stop on the old position at SPX 1414 and on the new position, if taken, at SPX 1412. If not stopped out, carry the position(s) over the holiday weekend and into Tuesday.
While Christmas seasonality has not worked as well in recent years as it once did, it is still a powerful force, and it is the main reason that the daily model is bullish today.
And with that, a very Merry Christmas to all observers – and a very pleasant weekend to all whether they are or are not.
Thanks for the opportunity to be of service, and I’ll email you again in 96 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