The SPX declined 12.49 points Friday to close at 2164.69. TOT daily traders went 200% long at SPX 2172 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 17116.05 cumulative SPX points, compared to a gain of 1705.76 points in the index itself over the same period. That’s a ratio of 10.03 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +10.03 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated April 15, 2016) The super long term perspective (a prediction, not a forecast!) 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 believe that, adjusted for REAL inflation (not the funny numbers the Social Security Administration uses) the stock market will be lower in real dollars in 2020 than it was in 2000. I also expect that our new 2016-elected President will have some very serious problems during his/her single term in office.
(The commentary in this paragraph last updated September 23, 2016.) The bearish case has weakened, and were it not for relatively poor breadth in the market leading Nasdaq, if would be on life support. But the verdict is still out on whether this bull run has topped out or not. For the time being, the Intermediate Term Model remains bearish, and lower prices in the intermediate term are expected.
The daily model is bullish today, but I expect lower prices in the early going. Maintain the stop on our 200% long position at SPX 2162. I expect to be stopped out within the first few minutes of trading, and I’ll be looking for a good re-entry point.
Thanks for the opportunity to be of service and I’ll email you again later today.
Turov on Timing is Copyright © 2016 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 including the fact that past performance is not a guarantee of future performance. 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 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.