This is Turov on Timing for Monday, December 14, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 4.06 points Friday to close at 1106.41. TOT daily traders came into the session 300% short, reversed it to 300% long at SPX 1104, and carried the position over the weekend and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11176.91 cumulative SPX points, compared to a gain of 647.48 points in the index itself over the same period. That’s a ratio of 17.26 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 2011 or 2012. But we’re certainly not at that point yet.
The Intermediate Term Model remains bearish, but not by much. There’s a pretty good chance that the Model will reverse itself within a few days or so
I expect to see the market modestly lower in the morning, and then for the morning trend – up or down – to accelerate later in the day. TOT daily traders are advised to go 300% short at SPX 1106 stop or at SPX 1109 limit, whichever comes first. Use a protective buy stop on the position at SPX 1114.
Thanks for the opportunity to be of service, and I’ll email you again at 10:50 a.m. – or sooner if circumstances warrant.
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