This is Turov on Timing for Monday, December 3, 2007.
The SPX advanced 11.42 points Friday to close at 1481.24. TOT daily traders went 500% short at SPX 1484.80 and took profits on the close.
TOT daily traders have outperformed the SPX in 17 of the past 22 weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10247.86 cumulative SPX points, compared to a gain of 1027.40 points in the index itself over the same period. That’s a ratio of 9.97 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. The direction of least resistance remains up, but the potential magnitude of any major move is down.
Approximately ¾ of the time, the market is up on the first trading day of December, and if all other indicators were neutral, that would be enough to make the daily model bullish. But other factors are bullish today also, and we will go long. TOT daily traders are advised to go 400% long at SPX 1482 stop or at SPX 1478 limit, whichever comes first. If you go long, use a 10 point protective sell stop. If not stopped out, hold your position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2007 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.