This is Turov on Timing for Thursday December 13, 2007.
In a wild, news driven session, the SPX advanced 8.94 points yesterday to close at 1486.59. “Officially”, TOT daily traders made a modest profit on the long side, but I am aware that because of the morning gap, that profit was, in reality, unattainable.
TOT daily traders have outperformed the SPX in 17 of the past 23 weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10242.12 cumulative SPX points, compared to a gain of 1027.66 points in the index itself over the same period. That’s a ratio of 9.97 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.
The intermediate term model remains bearish. I think the top of the 2002-2007 bull market is behind us.
On yesterday’s message, I said, “If the market does rally today, I don’t expect it to last.” Today’s daily model is consistent with that comment. The daily model is bearish today, and TOT daily traders are advised to go 300% short at the market. Hold the position without a stop, and carry it overnight and into tomorrow. Obviously, if any reader is uncomfortable holding a position without a stop, then choose one that fits your personal cash management style.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
Turov on Timing is Copyright © 2007 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.