The SPX declined 6.92 points Friday to close at 1691.75. TOT daily traders went 300% long at SPX 1689.57 at 9:40 a.m. and have carried 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 13491.67 cumulative SPX points, compared to a gain of 1232.82 points in the index itself over the same period. That’s a ratio of 10.94 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 25, 2013) The Intermediate Term Model remains bullish. The odds are that the recent decline from the highs is over or about over, and the market will challenge those highs sooner rather than later.
The directional component of the daily model is bullish, but the risk component is in the unacceptably high range, automatically defaulting the overall model to neutral. Therefore, TOT daily traders, who come into today’s session 300% long, are advised to raise the sell stop to an SPX 1689.57 breakeven. If not stopped out, carry the position overnight and into Tuesday.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – 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.