This is Turov on Timing for Thursday, April 26, 2012.
The SPX advanced 18.72 points yesterday to close at 1390.69. TOT daily traders had a breakeven on a trade taken after the morning gap. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13240.86 cumulative SPX points, compared to a gain of 931.76 points in the index itself over the same period. That’s a ratio of 14.21 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 remains bullish. Three days ago, I said, “The rest of this week will likely be strong, with a possibility of seeing the SPX approach 1400 again.” We’re less than ten points away from that, but I doubt the market can move much above there.
The daily model is bearish, but I only want to go short into weakness – which I don’t expect at the onset today. TOT daily traders are advised to go 300% short at SPX 1388 stop. If the SPX advances to 1394, raise your entry sell stop to SPX 1390, and for each additional 2 point advance, raise your stop by an equivalent 2 points. If the SPX advances to 1399 prior to going short, go short at that point.
Thanks for the opportunity to be of service, and I will update again sometime during today’s trading session.
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.