This is Turov on Timing for Thursday, August 3, 2006.
Not a particularly good day for the home team as the SPX advanced 7.63 points yesterday to close at 1278.55. TOT daily traders went 200% short at SPX 1277 on Friday and were stopped out yesterday at SPX 1282. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8940.35 cumulative SPX points, compared to a gain of 819.62 points in the index itself over the same period. That’s a ratio of 10.91 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
Both the long and short term models remain bearish.
The daily model is neutral today, with an unusually large number of component indicators giving strong signals – but in conflicting directions. We will stand aside and await a better trading opportunity.
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 (c) 2006 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.