This is Turov on Timing for Thursday, December 28, 2006.
The SPX advanced 9.94 points yesterday to close at 1426.84. TOT daily traders went 400% long shortly after the opening and have held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8846.86 cumulative SPX points, compared to a gain of 967.91 points in the index itself over the same period. (Yesterday’s number was incorrect and this number corrects it.) That’s a ratio of 9.14 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 (see Tuesday’s hotline message for an explanation) remains bullish.
The daily model is bullish today, but I’d expect to see momentum wane a bit as the day wears on. TOT daily traders come into today’s session 400% long. Liquidate your position at SPX 1431 limit or at SPX 1419 stop, whichever comes first. If not stopped out, carry your position overnight and into tomorrow, at which time we will tighten our stop considerably, as the last day of the year has become rather unpredictable in recent years.
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.