A very good day for the home team as the SPX advanced 36.16 points yesterday to close at 1692.56. TOT daily traders went 300% long at SPX 1656.99 on Wednesday, held the position overnight and into Thursday, and then took more than a 90 point cumulative profit t SPX 1687. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13541.32 cumulative SPX points, compared to a gain of 1233.63 points in the index itself over the same period. That’s a ratio of 10.98 to one.
(The commentary in this paragraph last updated June 28, 2013) The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I continue to expect the market to suffer more pain before the primary bear market is over, some years in the future.
(The commentary in this paragraph last updated October 7, 2013) The news-neutral Intermediate Term Model remains bullish. The purely statistical and news-neutral odds are that the recent decline from the highs is about over, and the market will challenge those highs sooner rather than later. However, it is obvious that current uncertainty regarding the hot air in Washington will continue to dominate the market until that uncertainty is resolved, one way or another.
As was expected, the risk component of the daily model is sky-high today. On top of that, the directional component of the model is neutral also, indicating that the market has no net emotional bias. Just as well, since the currently unknown news out of Washington is probably all that is going to matter. Unless you’re sleeping with the President or the Speaker, and he’s talking in his sleep, you don’t know anything that anybody else knows, and standing aside is the best strategy. Take the day off and go to the zoo. The monkeys there are at least entertaining.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Monday’s trading session.
Turov on Timing is Copyright © 2013 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. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.