The SPX advanced 0.22 point yesterday to close at SPX 1210.34. TOT daily traders went 200% long at SPX 1198 on Friday and another 200% long Monday at SPX 1206, and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8512.67 cumulative SPX points compared to a gain of 751.41 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish, and it’s unlikely anything will change that for several years.
Both the long and short term models remain bullish.
The directional component of the daily model is again bullish today, but unlike the past several days, the risk component of the model is extremely high. I think it would be prudent to play this market very close to the vest.
TOT daily traders come into today’s session 400% long. Raise your stop dramatically to SPX 1210. On the upside, if the SPX rises to 1217, take your profit. If neither level is reached by the end of the day, take your profit on the close today and go overnight flat. It is extremely unlikely that the daily model will be bullish 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 (c) 2005 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.