This is Turov on Timing for Monday, March 3, 2008.
A superb day for the home team as the SPX declined 37.05 points Friday to close at 1330.63. TOT daily traders went 300% short on the opening and have held the position over the weekend and into today.
Over past 35 weeks, TOT daily traders have outperformed the SPX 22 times and underperformed 13 times, a ratio of 1.7 to 1.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10133.13 cumulative SPX points, compared to a gain of 871.70 points in the index itself over the same period. That’s a ratio of 11.62 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.
The intermediate term model remains bearish. Despite normally favorable seasonality at the beginning of March, expect the coming week to exhibit continuing weakness.
The market will likely open to the downside today, then rally sharply, and then sell off again. TOT daily traders come into today’s session 300% short. Lower your stop to SPX 1335. If the SPX declines to 1325, lower your stop to SPX 1330, and for each additional 5 point decline, lower your stop by an equivalent 5 points. I will have an intraday update at 11:00 a.m. – or sooner if circumstances warrant.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
Turov on Timing is Copyright © 2008 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.