The SPX declined 12.43 points Friday to close at 1709.91. TOT daily traders came into the session 200% long and were stopped out with a 1% loss per unit at SPX 1710.07. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13492.72 cumulative SPX points, compared to a gain of 1250.98 points in the index itself over the same period. That’s a ratio of 10.79 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 September 23, 2013) The Intermediate Term Model remains bearish. I expect to see a significant pullback prior to an expected year end advance.
Historically, the week after options expiration in September is weak, but the daily model is bullish today. However, because of the seasonal tendency, I’m going to be cautious. TOT daily traders are advised to go an unleveraged 100% long at SPX 1711 stop. If you go long, use a protective sell stop at SPX 1696. If not stopped out, sell the position on the close and go overnight flat.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of tomorrow’s session – 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.