The SPX advanced 6 points yesterday to close at 1124.09. TOT daily traders went 300% short at SPX 1133 on Monday and have held the position overnight since then and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8386.29 cumulative SPX points compared to a gain of 665.16 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish, and it’s unlikely anything will change that for several years.
The long model remains neutral, and the short term model remains bearish.
After the close yesterday, Yahoo and Qualcomm reported excellent earnings, and so the tech stocks are likely to give an early boost to the market, as did Motorola yesterday. However, unlike yesterday, I think the market will not hold the early gain, and the market should sell off.
The daily model is again bearish today, and there is a 100% certainty that it will be bearish again tomorrow. TOT daily traders come into today’s session 300% short. Go an additional 100% short at SPX 1123 stop or at SPX 1127 limit, whichever comes first. Maintain the protective buy stop at SPX 1143 on both the old position and on the new one, if taken. 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 in 24 hours – or sooner if circumstances warrant.
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