THE FEBRUARY MONTHLY ISSUE OF TUROV ON TIMING WILL BE ATTACHED TO THE NEXT DAILY ISSUE, TO BE TRANSMITTED THIS SUNDAY NIGHT. THIS ISSUE WILL HAVE AN EXTREMELY IMPORTANT FIRST PAGE ARTICLE WITH A STATISTICAL ANALYSIS OF RECENT RESULTS. PLEASE LOOK FOR IT SUNDAY NIGHT OR MONDAY MORNING.
The SPX declined 11.62 points yesterday to close at 1270.84. TOT daily traders went 400% long shortly after last Friday’s opening and were stopped out yesterday at SPX 1273.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8555.29 cumulative SPX points, compared to a gain of 811.91 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 got slammed yesterday as disappointing productivity data spooked many institutions. Later in the day, a highly regarded analyst from SG Cowen reported a weakening in “sentiment surrounding fourth-quarter earnings”. There were also rumors floating around the floor and trading rooms that the U.S. may be planning to raise its terror alert level. There was little offsetting good news to placate the sellers.
Despite the selloff and the resultant damage to some very short term momentum indicators, most underlying component indicators of the daily model remain strong, and the daily model is generating a buy rating today. However, since certain cyclical factors preclude the possibility of the model being bullish again on Monday, we will use a tight stop to our recommended long position.
TOT daily traders are advised to go 300% long at SPX 1267 limit or at SPX 1271 stop, whichever comes first. Use a tight 5 point protective sell stop on the position. If still long as we approach the close, liquidate your position on the close and go into the weekend flat, as there is no possibility of a bullish daily model reading on Monday.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again in 72 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.