This is Turov on Timing for Friday, September 22, 2006.
The SPX declined 7.15 points yesterday to close at 1318.03. TOT daily traders went 200% short at SPX 1324 and have held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8948.62 cumulative SPX points, compared to a gain of 859.10 points in the index itself over the same period. That’s a ratio of 10.42 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.
The long term model remains neutral, and the short term model remains bearish.
The daily model is again modestly bearish today. TOT daily traders come into today’s session 200% short. Maintain the position, but lower your protective buy stop to SPX 1334. If not stopped out, carry your position over the weekend and into Monday.
PUBLICATION NOTICE: I WILL BE IN TRANSIT SUNDAY NIGHT AND EXPECT TO ARRIVE BACK IN SAN DIEGO ABOUT 1 A.M. ON MONDAY MORNING. I WILL TRANSMIT MONDAY’S MESSAGE BEFORE MONDAY’S MARKET OPENING, BUT EXPECT IT TO BE MUCH LATER MONDAY MORNING THAN USUAL.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again Monday morning.
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.