The SPX declined 75.91 points Friday to close at 2037.41. TOT daily traders were on the sidelines and avoided the big selloff.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 16684.83 cumulative SPX points, compared to a gain of 1578.48 points in the index itself over the same period. That’s a ratio of 10.57 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +10.57 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated April 15, 2016) The super long term perspective (a prediction, not a forecast!) for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I believe that, adjusted for REAL inflation (not the funny numbers the Social Security Administration uses) the stock market will be lower in real dollars in 2020 than it was in 2000. I also expect that our new 2016-elected President will have some very serious problems during his/her single term in office.
(The commentary in this paragraph last updated June 24, 2016.) The Intermediate Term Model remains bearish, and the world has some really fundamental concerns, the biggest of which, IMHO, is whether other European countries will leave the EU.
I expect to see the market end today’s session with a minor gain. If the SPX declines to 2021, I recommend going an unleveraged 100% long there. If you go long, sell the position at SPX 2039 limit or SPX 1996 stop, whichever comes first. If you go long and if the SPX is up on the day (by any amount) and if still long as we approach the close, take your profit on the close. Otherwise, hold the position overnight and into Tuesday.
Thanks for the opportunity to be of service and I’ll email you again in 24 hours.
Turov on Timing is Copyright © 2016 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 including the fact that past performance is not a guarantee of future performance. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.