A good day for the home team as the S&P 500 (SPX) declined 13.15 points to close at 1200.73. TOT daily traders went 300% short at SPX 1211.50 and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8604.97 cumulative SPX points, compared to a gain of 741.80 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 and short term models remain bearish.
The daily model, as expected, is bearish again today. TOT daily traders come into today’s session 300% short. Lower your protective buy stop to a breakeven SPX 1211.50. On the downside, if the SPX declines to 1186, take your profit. If neither level is reached, carry your short position over the weekend and into Monday.
I promised I’d let you know when I was taking profits in bonds for my managed accounts, and I have done so. It’s not because I don’t believe the bond rally has further to go – I do – but rather because in the very short term, they’re somewhat overbought and, in addition, being short the stock market seems a better use of capital.
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) 2005 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.