Another good day for the home team Friday as the S&P 500 (SPX) declined 9.16 points to close at 1191.57. TOT daily traders went 300% short at SPX 1211.50 on Thursday and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8632.45 cumulative SPX points, compared to a gain of 732.64 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish, and it’s unlikely anything will change that for several years.
Both the long and short term models remain bearish.
The directional component of the daily model is bearish today, but the risk of remaining short has increased dramatically. TOT daily traders come into today’s session 300% short. Lower your protective buy stop again to SPX 1203. On the downside, if the SPX declines to 1186, lower your stop again to SPX 1193. If not stopped out, carry your short position overnight and into tomorrow.
I do not have any strong feelings about how the market might act today, so I’m going to leave it pretty much up to the daily model, and let it call the shots.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances warrant.
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