This is Turov on Timing for Monday, October 5, 2009.
The Standard & Poor’s 500 Index (“SPX”) declined 4.64 points Friday to close at 1025.21. TOT daily traders were on the sidelines for the session. I attempted to send out a “go long” advisory at 3:55 Friday, but AOL froze and could not get the email out in time.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11053.32 cumulative SPX points, compared to a gain of 566.28 points in the index itself over the same period. That’s a ratio of 19.52 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2010 or 2011. But we’re certainly not at that point yet.
The Intermediate Term Model remains bullish.
The daily model is bullish today. TOT daily traders are advised to go 300% long at SPX 1026 stop or at SPX 1022 limit, whichever comes first. Use a 10 point protective stop on the position. If not stopped out, and if the position is profitable, carry it overnight and into tomorrow. If not stopped out, and if the position is unprofitable, sell it on the close.
While today looks like an up day, the balance of the week looks less bullish. Caution is in order.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
Turov on Timing is Copyright © 2009 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.