This is Turov on Timing for Monday, April 25, 2011.
The SPX advanced 7.02 points Friday to close at 1337.38. TOT daily traders covered our short position soon after the opening and then went 300% long at SPX 1335.24 at 10:45 a.m. We closed the long position on the close and went overnight flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12402.13 cumulative SPX points, compared to a gain of 878.45 points in the index itself over the same period. That’s a ratio of 14.12 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then). When the current cyclical bull market ends, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bullish.
The daily model is modestly bearish today, but not by enough to warrant risking capital. Stand aside for the session.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Tuesday’s session.
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