This is Turov on Timing for Thursday, August 31, 2006.
The SPX declined 0.01 point yesterday to close at 1304.27. Most other indices, including the Dow, were up a tad. NASDAQ actually had a good advance. 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 8931.68 cumulative SPX points, compared to a gain of 845.34 points in the index itself over the same period. That’s a ratio of 10.57 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 neutral.
Somewhat to my surprise, the daily model is solidly bullish today. TOT daily traders are advised to go an aggressively 400% long at SPX 1305 stop. If you take the position, use a protective sell stop at SPX 1297.50. If not stopped out, carry your position overnight and into tomorrow.
Officially, we’re going long the SPX. Unofficially, for those of you nimble enough to adjust, I’d rather be long the QQQQs as I think they will continue to do better than the SPX or the Dow.
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 © 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.