The SPX declined 11.86 points yesterday to close at 1128.98. TOT daily traders took a nasty 10 point trading loss on 3 units and are currently flat. It was not a pleasant way to begin July.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8235.09 cumulative SPX points compared to a gain of 670.05 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish, and it’s unlikely anything will change that for several years.
Both the long term and short term models remain bearish.
As a miscellaneous note, over the past decade, there have been only two instances where the market has declined on BOTH of the days prior to the Independence Day holiday.
The daily model is bullish today, despite yesterday’s poor showing. TOT daily traders are advised to go 300% long at SPX 1134 stop or at SPX 1122 limit, whichever comes first. If you go long, use a 10 point protective buy stop. If not stopped out AND if the SPX is closing up on the day, carry your position over the holiday weekend and into Tuesday. If the SPX is closing down on the day, take your licks on the close and head into the weekend flat.
Have a great holiday weekend, thanks for the opportunity to be of service, and I’ll email you again in 96 hours – or sooner if circumstances permit.
Turov on Timing is Copyright (c) 2004 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.