This is Turov on Timing for Monday, November 15, 2010.
The SPX declined 14.33 points Friday to close at 1199.21. TOT daily traders had a net profit on the day. We first went 300% long at SPX 1206.40 and took a small loss on the position, selling at SPX 1203.50. We simultaneously reversed the position, going 300% short at SPX 1203.50 and covering the short on the SPX 1199.21 close, making up the loss and then some. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11978.94 cumulative SPX points, compared to a gain of 740.28 points in the index itself over the same period. That’s a ratio of 16.18 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). When the current cyclical bull market ends, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bullish.
The daily model has just a slight bullish bias today. If we can get in without much of a premium over Friday’s close, a small position with a tight stop is warranted. TOT daily traders are advised to go 200% long at SPX 1200 stop or at SPX 1196 limit, whichever comes first. Once long, use a tight ½% stop on the position. If not stopped out prior to the close, liquidate the 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.
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