This is Turov on Timing for Friday, September 11, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 10.77 points yesterday to close at 1044.14. TOT daily traders took a nasty loss on a 300% short position We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11043.14 cumulative SPX points, compared to a gain of 585.21 points in the index itself over the same period. That’s a ratio of 18.87 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.
Yesterday was the fifth day in a row that the SPX advanced, the first time this year that that has happened. A sixth day is a major unlikelihood. The daily model is VERY bearish today. TOT daily traders are advised to go a maximally bearish 500% short at SPX 1044 stop or at SPX 1049 limit, whichever comes first. Once you go short, use a 1.5% protective buy stop on the position. We are taking a large position with a distant stop, but with the expectation of a large profit today.
Thanks for the opportunity to be of service, and I’ll email you again no later than 11 a.m.
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