This is Turov on Timing for Monday, January 29, 2007.
The SPX declined 1.72 point Friday to close at 1422.18. TOT daily traders went 400% short at SPX 1425.50 and have held the position over the weekend and into today.
In the five weeks since Christmas (when I made major changes in the daily model, as reported on in the January monthly issue of Turov on Timing), TOT daily trader recommendations have been profitable every week. They have also outperformed the SPX in each of those five weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8916.78 cumulative SPX points, compared to a gain of 963.25 points in the index itself over the same period. That’s a ratio of 9.26 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. I will discuss this “perspective” further in the February monthly issue of TOT.
The intermediate term model remains bearish.
Despite late January historically being the second strongest month end period of the year, the daily model is again bearish today. TOT daily traders come into today’s session 400% short from SPX 1425.50. Lower your protective buy stop to SPX 1433.76. If the SPX declines to 1405, lower your stop to SPX 1415, and for each additional 5 point decline, lower your stop by an equivalent 5 points. If not stopped out and if the SPX is closing down on the session, carry your position overnight and into tomorrow. However, if not stopped out and if the SPX is closing up on the session, then cover your short 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 © 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.