This is Turov on Timing for Friday, June 25, 2010.
The SPX declined 18.35 points yesterday to close at 1073.69. TOT daily traders went 300% long at SPX 1088 and took our loss at SPX 1081.79. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12042.53 cumulative SPX points, compared to a gain of 614.76 points in the index itself over the same period. That’s a ratio of 19.59 to one.
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, most likely in 2012, but not necessarily at significantly higher levels than at present.
The Intermediate Term Model remains bullish, but it is holding on to that reading by the narrowest of margins.
The market has declined all four days this week. Today is likely to make a fifth.
The daily model is bearish today, and after a dead cat bounce in the early going, it is likely to move lower. TOT daily traders are advised to go short at the first sign of weakness. Go 300% short at SPX 1073 stop. If the SPX first rises to 1076, raise the initiation sell stop to SPX 1074, and for each additional 2 point advance, raise the initiation sell stop by an equivalent 2 points. Once you have gone short, use a 1% protective buy stop on the position. If still short at 3:50, I’ll have an intraday update by 3:55. Otherwise, the next report will be six hours before Monday’s start of trading.
Thanks for the opportunity to be of service, and I’ll email you again as per the prior paragraph – 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.