The SPX declined 7.64 points yesterday to close at 1140.53. After having taken a 21 point profit on 5 leveraged units Monday, TOT daily traders sat on the sidelines Tuesday and yesterday while the market declined 10 points. We’re ready to come back in now.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8385.96 cumulative SPX points compared to a gain of 681.61 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.
Both the long and short term models remain bullish.
Despite the decline yesterday, the advance/decline ratio wasn’t bad at all. Indeed, NASDAQ actually had a positive advance/decline ratio on the day, along with positive advancing to declining volume.
The market is usually bullish the day before Good Friday, and today should be no exception. TOT daily traders are advised to go 400% long at the market. Use a 10 point protective sell stop. If the SPX rises to 1145, raise your stop to 1140, and for each additional 5 point advance, raise your stop an equivalent 5 points. If not stopped out, carry your position over the holiday weekend and into Monday.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again in 96 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright (c) 2004 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 publisher.