This is Turov on Timing for Monday December 31, 2007.
The SPX advanced 2.12 points Friday to close at 1478.49. TOT daily traders went 200% long on the opening and have held the position over the weekend and into today.
TOT daily traders have outperformed the SPX in 18 of the past 26 weeks but it has been a nasty December.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10170.60 cumulative SPX points, compared to a gain of 1019.46 points in the index itself over the same period. That’s a ratio of 9.98 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 we have begun the second leg down of the 2000-2015? primary bear market.
I expect to see the market move upwards in the early going, and then sell off as the day progresses. TOT daily traders come into the session 200% long. Use a fairly tight stop at SPX 1473. If the SPX advances to 1480, raise the stop to SPX 1475, and for each additional 5 point advance, raise your stop by an equivalent 5 points. I’ll have an intraday update between 10:45 a.m. and 10:50 a.m., Eastern time.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
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