The SPX declined 0.74 point Friday to close at 1095.70. TOT daily traders came into the session 300% short and covered their short on the close, going into the weekend flat.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8294.24 cumulative SPX points compared to a gain of 636.77 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 term and short term models remain bearish.
The daily model is bullish today, and if the overnight news from Tokyo and the oil market doesn’t worsen too much, we should have an up session today. TOT daily traders are advised to go 300% long at SPX 1096 stop or at the market at 9:45 a.m., EDST, whichever comes first. Use a 10 point protective sell stop on your position. On the upside, if we get to SPX 1108, take your profit. If still long on the close, carry your position overnight and into tomorrow. However, please note that inasmuch as it is unlikely that the daily model will be bullish again tomorrow, if we do carry the position overnight, we will likely tighten the stop substantially tomorrow.
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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