This is Turov on Timing for Thursday, April 12, 2012.
As expected, the Alcoa news Tuesday night sparked a gap opening in all the major averages, and the SPX advanced 10.12 points yesterday to close at 1368.71. However, as measured by the ETFs, all the major averages closed down from where they opened. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13194.54 cumulative SPX points, compared to a gain of 909.78 points in the index itself over the same period. That’s a ratio of 14.50 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then). When the current cyclical bull market ends (and at present, my best educated guess is that it will end in late 2012 or early 2013), expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model is bullish. I expect to see the market move higher today, but if breadth is poor, then we could easily see this Model reverse itself rather quickly.
The daily model is modestly bullish today. In the absence of news, I expect the SPX to do better in the afternoon than in the morning. The NASDAQ 100 should outperform the SPX, at least in the morning. I want to stay on the sidelines in the early going, but I will be recommending an SPX long position sometime in the morning. I will email you again this morning.
Turov Investment Group Inc. managed account activity for April 11, 2012
Position entering the day
Position change at 10:45 a.m.
Position change at 4:00 p.m. (i.e. overnight)
Program B, C, R
100% NASDAQ 100 2x
100% NASDAQ 100 2x
50% NASDAQ 100 2x
& 50% SPX 2x
Notes: The custodian for Programs A, B, C, D and Rydex (R) is Rydex Funds
The custodian for Program VA (Variable Annuity) is Nationwide Insurance
Turov Investment Group Inc. never takes possession of client funds.
IMPORTANT: Occasionally, errors will occur in the above; it is not an “official” report!
Thanks for the opportunity to be of service, and I will update again in a few hours.
Turov on Timing is Copyright © 2012 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.