This is Turov on Timing for Friday, June 2, 2006.
A superb start to the new month as the SPX advanced 15.62 points yesterday to close at 1285.71. TOT daily traders went 300% long at SPX 1271 and have carried the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8892.05 cumulative SPX points, compared to a gain of 826.78 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 directional component of the daily model is bullish again today. However, the risk component has climbed dramatically, tipping the overall model into neutral. It’s time again for a bit of caution. TOT daily traders come into today’s session 300% long. Raise your stop to a fairly tight SPX 1283. On the upside, if the SPX advances to 1290, raise your stop to SPX 1286, and if it rallies to 1294.50, take your profit. If not closed out and if the SPX is closing up on the day, carry your position over the weekend and into Monday. On the other hand, if not closed out and if the SPX is closing down on the day, take your profit on the close and go into the weekend flat.
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.