This is Turov on Timing for Friday, June 26, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 19.32 points yesterday to close at 920.26. TOT daily traders went 200% long at SPX 906.33 and took a 27.86 point profit on the close.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11133.90 cumulative SPX points, compared to a gain of 461.33 points in the index itself over the same period. That’s a ratio of 24.13 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that after a solid cyclical advance later this year, the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices next year. But we’re certainly not at that point yet.
The Intermediate Term Model remains bearish, although I think we should see some improvement relatively soon.
My daily model is SLIGHTLY bullish for today but in the aftermath of yesterday’s big advance AND in consideration of how close we are to some significant technical resistance AND since Friday’s have not been net winners for the SPX since this service started in 1993, I’m not going to suggest going long into such a minor signal. Stand aside and begin the weekend early.
Thanks for the opportunity to be of service, and I’ll email you again in 72 hours – or sooner if circumstances warrant.
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