This is Turov on Timing for Thursday, December 7, 2006.
The SPX declined 1.86 point yesterday to close at 1412.90. 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 8867.84 cumulative SPX points, compared to a gain of 953.97 points in the index itself over the same period. That’s a ratio of 9.30 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.
In the absence of important news, the most likely direction of the market over the next week to ten days is sideways.
The daily model is ever so slightly bullish today. TOT daily traders are advised to go 100% long – that is the smallest position we ever take and only 1/5 of our maximum possible position – at SPX 1415 stop. If you go long, use a very tight 5 point sell stop on the position. On the upside, if the SPX rallies to 1420, raise your stop to SPX 1415. And for every additional 5 point advance, should it occur, raise your stop by an equivalent 5 points. If long on the close, carry your position overnight and into tomorrow.
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.