The SPX advanced 11.35 points Friday to close at 1744.50. TOT Intermediate Term traders were 100% long for the session and remain so, while TOT daily traders went an unleveraged 100% short at SPX 1738 and have held the position over the weekend and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13567.97 cumulative SPX points, compared to a gain of 1285.57 points in the index itself over the same period. That’s a ratio of 10.55 to one.
(The commentary in this paragraph last updated June 28, 2013) The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I continue to expect the market to suffer more pain before the primary bear market is over, some years in the future.
(The commentary in this paragraph last updated October 18, 2013) The Intermediate Term Model remains bullish. The market is now above its previous high, as was expected, and I expect it to move higher yet – before it crashes.
Historically, the Monday after options expiration in October has been quite strong – but I can’t think of any reason why. And without being able to consider a plausible reason, the odds favor it being random rather than being something of significance. On the other hand, if any reader can image a reason why it is not random – especially considering that most “days after options expiration” are down and that October has been an exception – I’d love to consider your theory.
The daily model is bearish today, but not by much. I expect to see the market move lower, but not by much. And we come into today with a “not much” position. TOT daily traders are an unleveraged 100% short from SPX 1738 limit. Maintain your protective buy stop on the position at SPX 1755.38.
If not stopped out and if the SPX is closing below Thursday’s close of 1733.15, take your profit on the close. Otherwise hold the position overnight and into Tuesday.
Turov on Overnight Possibilities now has enough subscribers to initiate service, which we will do today. The February guarantee, described in my prior email to you, will apply to all subscribers who pay for the service by today at noon, Eastern time. After that, we will gladly accept new subscribers, but the February guarantee will not apply to their subscription. If you wish to subscribe, please email me requesting a Paypal invoice, and I will transmit one to you.
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 © 2013 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. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.