This is Turov on Timing for Monday, September 25, 2006.
The SPX declined 3.25 points Friday to close at 1314.78. TOT daily traders went 200% short at SPX 1324 on Thursday and have held the position overnight and into today.
Over the past 29 weeks, TOT daily traders recommendations have been profitable 20 weeks and unprofitable 9 weeks. And over the past 29 weeks, TOT daily traders recommendations have outperformed the SPX 22 weeks and underperformed 7 weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8955.12 cumulative SPX points, compared to a gain of 855.85 points in the index itself over the same period. That’s a ratio of 10.46 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
The long term model remains neutral, and the short term model remains bearish.
Although the market is likely to open to the upside today (that happens often on Mondays when there’s no bad news over the weekend) the daily model is again modestly bearish today. TOT daily traders come into today’s session 200% short. Maintain the position, but lower your protective buy stop to SPX 1328. If not stopped out, carry your position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Tuesday’s trading session – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2006 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.