This is Turov on Timing for Friday, May 20, 2011.
The SPX advanced 2.92 points yesterday to close at 1343.60. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12427.57 cumulative SPX points, compared to a gain of 884.67 points in the index itself over the same period. That’s a ratio of 14.05 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). When the current cyclical bull market ends, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model, after a brief stint with a bearish reading, remains bullish.
The daily model is bearish today. TOT daily traders are advised to go 400% short at SPX 1343 stop or at SPX 1346 limit, whichever comes first. Once short, use a 1% protective buy stop on the position. If not stopped out, cover the short on the close and go into the weekend flat.
Have a great weekend, thanks for the opportunity to be of service, and I’ll update again in 72 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2011 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.