The SPX declined 4.88 points yesterday to close at 2270.44. TOT daily traders went 200% long at 10:46 in the morning at SPX 2260, and held the position through the close, for a comfortable profit of 10.44 points, times 2. We then carried the position overnight and into today.
Remember that the market will be closed on Monday, in honor of my birthday, commonly known as MLK Day, an abbreviation for “My Leisurely Kicking-back Day.”
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 17056.71 cumulative SPX points, compared to a gain of 1811.51 points in the index itself over the same period. That’s a ratio of 9.42 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +9.42 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated November 10, 2016) The super long term perspective (a prediction, not a forecast!) for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I believe that, adjusted for REAL inflation (not the funny numbers the Social Security Administration uses) the stock market will be lower in real dollars in 2020 than it was in 2000. For a long time, I’ve been saying, “I also expect that our new 2016-elected President will have some very serious problems during his/her single term in office.” That belief stands.
(The commentary in this paragraph last updated January 5, 2017.) The Intermediate Term Model is bearish. The Santa Claus rally showed a small gain this year, which, IMHO, doesn’t really matter much.
The daily model is slightly bullish today, but all my index models are bearish for the morning (through 10:45 a.m.). As I’ve indicated before, such digressions are still under study, and it is unclear which models will prove more accurate. So far, the data is inconclusive.
TOT daily traders come into today’s session 200% long from SPX 2260. Our stop as of late yesterday was SPX 2265 and we will stay with it. Once long, use a 1% protective sell stop on the position. If not stopped out, carry the position over the 3 day weekend and into Tuesday
Thanks for the opportunity to be of service and I’ll email you again prior to the start of Tuesday’s trading session.
Turov on Timing is Copyright © 2017 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 including the fact that past performance is not a guarantee of future performance. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.