This is Turov on Timing for Monday, November 13, 2006.
The SPX advanced 2.57 points Friday to close at 1380.90. TOT daily traders attempted to go long at SPX 1381 stop but were not elected.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8874.16 cumulative SPX points, compared to a gain of 921.97 points in the index itself over the same period. That’s a ratio of 9.63 to one.
Over the past 36 weeks, TOT daily traders recommendations have been profitable 24 weeks and unprofitable 12 weeks. And over the past 36 weeks, TOT daily traders recommendations have outperformed the SPX 23 weeks and underperformed 13 weeks.
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.
Both the long and short term models remain neutral.
The daily model is bullish today. TOT daily traders are advised to go 400% long at the same price we were trying for on Friday, SPX 1381 buy stop. If you go long, use a protective sell stop at SPX 1375. If the SPX rises to 1387, raise your stop to a breakeven SPX 1381. If it rises further to SPX 1393, raise your stop again to SPX 1387. And if it rises all the way to SPX 1398 – which I really don’t expect – take your profit.
There is no chance that the daily model will again be bullish on Tuesday (neutral is probably about a 90% probability). Therefore, if neither stop nor limit is reached today, liquidate your position on the close and go overnight flat.
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 © 2006 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.