This is Turov on Timing for Friday, February 15, 2008.
A very good day for the home team Thursday. The SPX declined 18.35 points yesterday, precisely reversing Wednesday’s gain of the exact same amount, closing at 1348.86. TOT daily traders went 300% long on Wednesday’s opening, took profits yesterday at SPX 1367, then went 300% short at SPX 1363, and then held the position overnight and into today.
TOT daily traders have outperformed the SPX in 20 of the past 32 weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10039.65 cumulative SPX points, compared to a gain of 889.93 points in the index itself over the same period. That’s a ratio of 11.28 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.
The intermediate term model remains bearish, and candidly, I have no opinion as to how long it might stay in this mode. I’m surprised how quickly it turned on Wednesday from bullish to bearish; that’s not common.
The daily model is bearish today. TOT daily traders come into today’s session 300% short. Lower your stop to an SPX 1363 breakeven. If not stopped out, carry your position over the weekend and into Tuesday.
And with that thought in mind, have a great three day weekend, thanks for the opportunity to be of service, and I’ll email you again in 96 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2008 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.