This is Turov on Timing for Monday December 17, 2007.
An excellent day for the home team as the SPX declined 10.46 points Friday to close at 1467.95. TOT daily traders went 300% short on the opening on Thursday and have held that position overnight Thursday and Friday and into today.
TOT daily traders have outperformed the SPX in 18 of the past 24 weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10288.08 cumulative SPX points, compared to a gain of 1009.02 points in the index itself over the same period. That’s a ratio of 10.20 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 intermediate term model remains bearish. I think the top of the 2002-2007 bull market is behind us.
The daily model is again bearish today. TOT daily traders come into today’s session 300% short. Maintain the position and place a protective buy stop at SPX 1476. If the SPX declines to 1460, lower your stop to SPX 1470 and for each 10 point decline from there, lower your stop by an equivalent 10 points. If not stopped out, carry your position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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