This is Turov on Timing for Monday, June 29, 2009.
The Standard & Poor’s 500 Index (“SPX”) declined 1.36 points Friday to close at 918.90. TOT daily traders were on the sidelines for the session.
It was the third consecutive week that TOT was profitable.
It was the third consecutive week that TOT outperformed the SPX.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11133.90 cumulative SPX points, compared to a gain of 459.97 points in the index itself over the same period. That’s a ratio of 24.21 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices next year. But we’re certainly not at that point yet.
The Intermediate Term Model remains bearish, although I think we should see some improvement relatively soon.
Overnight weakness in futures notwithstanding, the daily model is bullish today. TOT daily traders are advised to go 300% long at SPX 920.60 stop or at SPX 910.60 limit or at the market at 9:45, whichever of those three possibilities comes first. Once you go long, use a 10 point protective sell stop on the position. At 10:45 a.m., if still long and if the stop is more than 2 points below the extant price, raise the stop to 2 points below the extant price. If not stopped out, carry the position overnight and into tomorrow.
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 © 2009 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.