This is Turov on Timing for Friday, June 11, 2010.
The Standard & Poor’s 500 Index (“SPX”) advanced 31.17 points yesterday to close at 1086.84. TOT daily traders were on the sidelines for the session until the close when we went 300% short and have held that position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12049.38 cumulative SPX points, compared to a gain of 627.91 points in the index itself over the same period. That’s a ratio of 19.19 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then) but the current cyclical bull market probably has further to go before topping out – although with each passing day I’m getting less sanguine about that!
The Intermediate Term Model remains bearish.
From a perspective of conventional technical analysis, yesterday’s advance on solid volume was quite bullish. I disagree (at least as far as today goes). TOT daily traders come into today’s session 300% short. Raise that to a maximally bearish 500% short by going an additional 200% short at the market.
Wherever the market is at 9:35 (that’s the “opening” on a 9:36 one minute bar chart), use a stop 12 points above there.
Thanks for the opportunity to be of service, and I’ll email you again at 10:50 – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2010 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.