This is Turov on Timing for Monday, November 1, 2010.
The SPX declined 0.52 point Friday to close at 1183.26 in the fifth “little changed” session of the week. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11952.03 cumulative SPX points, compared to a gain of 724.33 points in the index itself over the same period. That’s a ratio of 16.50 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then). I am uncertain whether the previous 2010 high will be tested or not – in either event, prior to another nasty crash.
The Intermediate Term Model remains bullish.
The Daily Model is also bullish today, but futures are up strongly overnight – more strongly than I think the market will maintain. So buying the opening is probably not a good idea. Stand aside.
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 © 2010 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.