This is Turov on Timing for Monday, December 6, 2010.
The SPX advanced 3.18 points Friday to close at 1224.71. After two days of superb gains, we gave back a little of that as the market unexpectedly rallied in the last hour of trading Friday. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12166.23 cumulative SPX points, compared to a gain of 765.78 points in the index itself over the same period. That’s a ratio of 15.89 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 bearish.
The SPX based daily model is bearish today, but the NASDAQ model is indicating some early morning strength. TOT daily traders are advised to stand aside until 10:45 a.m. and to then go 200% short at the market at that time. Once short, use a 1% protective buy stop on the position. If not stopped out, cover the position on the close and go overnight flat.
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 © 2010 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.