The SPX advanced 9.38 points yesterday to close at 1289.38. After booking a 46 point total gain on Tuesday, TOT daily traders have been on the sidelines since then because of high risk
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8586.41 cumulative SPX points, compared to a gain of 830.45 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 daily model is neutral today, primarily a function of the higher standards for allowing capital to be risked on options expiration Fridays. Although much of what used to occur on options expiration Fridays now occurs earlier in the week, the day still has the potential for weird volatility, and without a very strong buy or sell signal, standing aside is the best course.
Enjoy the long 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 (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.