This is Turov on Timing for Monday, October 31, 2011.
The SPX advanced ½ point yesterday to close at 1285.09. TOT daily traders came into the session 300% short and covered on the close.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12561.12 cumulative SPX points, compared to a gain of 826.16 points in the index itself over the same period. That’s a ratio of 15.20 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 (and at present, it is quite possible that it has already ended, the major doubt factors being the upcoming presidential election, the European debt crisis, and the Congressional budget battles), 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.
While the market usually advances on the last day of October, it does so more consistently when October has been weak – and this October certainly has not been.
The odds favor a flat morning, followed by a weak afternoon. We will stay on the sidelines for the time being, but I am looking for a place to go short and will email you intraday if I’m comfortable doing so.
Thanks for the opportunity to be of service, and I will update again sometime during today’s trading session IF deemed appropriate OR in 24 hours.
Turov on Timing is Copyright © 2011 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.