This is Turov on Timing for Friday, October 16, 2009.
A really fun day as the Standard & Poor’s 500 Index (“SPX”) advanced 4.54 points yesterday to close at 1096.56. TOT daily traders came into the session from Wednesday’s SPX close of 1092.02 and first covered that short at SPX 1089 at 11:00, then went 200% long also at SPX 1089, and then took profits on the long position on the SPX 1096.56 close.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11177.74 cumulative SPX points, compared to a gain of 637.63 points in the index itself over the same period. That’s a ratio of 17.53 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2010 or 2011. But we’re certainly not at that point yet.
The Intermediate Term Model remains bullish.
The odds favor a weak early morning today despite the strong aftermarket showing from Big Blue and Google. TOT daily traders are advised to go 300% short at SPX 1096 stop or at SPX 1099 limit, whichever comes first. Once you go short, use a 1.2% protective buy stop on the position. I will update no later than 11 a.m.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
Turov on Timing is Copyright © 2009 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.