The SPX advanced 2 points yesterday to close at 1655.08. TOT daily traders were on the sidelines and missed virtually nothing.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13508.35 cumulative SPX points, compared to a gain of 1196.15 points in the index itself over the same period. That’s a ratio of 11.29 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 September 2, 2013) The Intermediate Term Model remains bullish. I expect to see SPX 1700 again before 1600, but once that has occurred, I expect to see 1600 before 1800. But for now, put me down as an intermediate term bull.
On a 3:50 update yesterday, I said:
The SPX-based daily model has an 85% PROBABILITY of being bearish Friday.
Order of potential weakness based on statistical probabilities unique to extant circumstances:
I’m going to TRY to come out with updates similar to that one each afternoon. We’ll see how it works. At the end of the month, I’ll send out a questionnaire to find out how valuable it is – or is not.
As anticipated, the daily model is bearish today, and I want to go short into the first sign of weakness. TOT daily traders are advised to go 400% short at SPX 1654 stop. If the SPX advances to 1658 before declining to 1654, raise your entry sell stop to SPX 1656. And for each further 2 point advance, raise your entry sell stop by an equivalent 2 points. If and when you go short, use a 1% protective buy stop on the position.
Thanks for the opportunity to be of service, and I’ll email you again sometime during today’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.