This is Turov on Timing for Friday, November 10, 2006.
A disappointing day for daily traders as the SPX declined 7.39 points yesterday to close at 1378.33. TOT daily traders went 400% long at SPX 1379.60 on Wednesday and were stopped out at the same 1379.60 level on Thursday. We are currently flat.
Interestingly enough, both managed account Program B and Program D traders made money yesterday, Program B because we were long the Precious Metals fund, and Program D because we were long the NASDAQ 100 fund only in the morning. There are disadvantages to being limited to the SPX, as has always been the focal point of this service.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8874.16 cumulative SPX points, compared to a gain of 917.86 points in the index itself over the same period. That’s a ratio of 9.67 to one.
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.
Both the long and short term models remain neutral.
The daily model is bullish today, despite yesterday’s decline. I want to go long, but I first want to see how the market trades in the early going. I will have an intraday update sometime during the morning hours with further commentary and probably a recommendation.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
Turov on Timing is Copyright © 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.