This is Turov on Timing for Thursday, December 3, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced a miniscule 0.38 point yesterday to close at 1109.24. 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 11210.07 cumulative SPX points, compared to a gain of 650.31 points in the index itself over the same period. That’s a ratio of 17.24 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 bearish.
Overnight markets have been up, and the likelihood is that our markets will open higher as well. However, that strength will probably not hold in the early going, although if the fade is not too deep, we could see another rally attempt later in the session. TOT daily traders are advised to go 300% short at SPX 1113 limit or at SPX 1106 stop, whichever comes first. If you go short at SPX 1113, use a buy stop at SPX 1118. Alternatively, if you go short at SPX 1106 stop, use a buy stop at SPX 1114. If neither SPX 1113 nor SPX 1106 is reached by 10:00, consider the recommendation cancelled.
Thanks for the opportunity to be of service, and I’ll email you again between 10:45 and 11:00 a.m.
Turov on Timing is Copyright © 2009 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.