This is Turov on Timing for Friday, January 12, 2007.
Another good day for the home team as the SPX advanced 8.97 points yesterday to close at 1423.82. TOT daily traders went 300% long near Wednesday’s low at SPX 1407 and took profits yesterday at SPX 1425.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8881.50 cumulative SPX points, compared to a gain of 964.89 points in the index itself over the same period. That’s a ratio of 9.20 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 neutral.
The big unknown today is likely to be what happens with the NASDAQ 100 and how will that impact the SPX and the Dow. NASDAQ looks quite vulnerable. The daily model, is based on the SPX, of course, and it is neutral today, with excellent momentum balanced by a lot of overextended indicators. We will stand aside. Otherwise, the important news is that Monday, January 15th is my 60th birthday, and in celebration, Congress has declared Monday a national holiday, and all stock markets will be closed. So enjoy the three day 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 © 2007 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.