IMPORTANT NOTE: I will be leaving the office immediately after the close today and will not be able to transmit Monday’s message at the regular time. The next email TOT will be sent approximately 3pm on Monday IF I have a recommendation. Otherwise, the next TOT will be sent six hours before the opening of Tuesday’s trading session.
The SPX declined 1.87 points yesterday to close at 1263.78. For the week so far, the SPX is virtually unchanged. Specifically, it’s down ¼ of a single point for the week so far. Quite appropriately, TOT daily traders have been on the sidelines for the entire week.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8540.29 cumulative SPX points, compared to a gain of 804.85 points in the index itself over the same period.
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.
The long term model remains neutral, and the short term model remains bullish.
The market spent most of yesterday in positive territory, only to see it fall slightly negative into the close. The DJII was up ¼% while NASDAQ was down ½%.
The directional component of the daily model is modestly bullish today, but the risk component of the model is very high, indicating substantial downside risk if any substantively negative news were to come out. The high risk flips the overall model into a neutral mode, and we will stand aside again today.
For Monday (see above comment about my travel plans), the daily model will likely be bullish if the SPX advances today, but neutral if it does not. However, without my being able to run my data over the weekend, we will “officially” stand aside on Monday as well. “Unofficially” however, if the SPX closes in positive territory today, being long on Monday will probably be a good bet.
Thanks for the opportunity to be of service, and I’ll email you again on Monday or very early Tuesday.
Turov on Timing is Copyright (c) 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.