This is Turov on Timing for Thursday, December 17, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 1.25 points yesterday to close at 1109.18. TOT daily traders went 300% short at SPX 1114 on Tuesday and covered the position on Wednesday’s opening. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11204.18 cumulative SPX points, compared to a gain of 650.25 points in the index itself over the same period. That’s a ratio of 17.23 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2011 or 2012. But we’re certainly not at that point yet.
The Intermediate Term Model remains bullish.
The daily model is bullish today. TOT daily traders are advised to go 300% long at SPX 1111 stop or at SPX 1106 limit, whichever comes first. Once you go long, use a protective sell stop at SPX 1097 until 10:45. At 10:45, if the stop is more than 2 points below the extant price, raise your stop to 2 points below the extant price. If still long on the close, carry the position overnight and into tomrrow.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances warrant.
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