The SPX advanced 9.64 points yesterday to close at 1292.67. TOT daily traders went 200% short at SPX 1289.60 on Tuesday and took profits at SPX 1286 yesterday.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8593.61 cumulative SPX points, compared to a gain of 833.74 points in the index itself over the same period.
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.
The daily model is neutral today, with bullish and bearish component indicators shouting radically different messages. However, if the SPX rallies to the 1300 area, at that point the downside potential would vastly outweigh the upside potential. In addition, a solidly negative close today would be very bearish for tomorrow.
TOT daily traders are advised to go 300% short at SPX 1299 limit at any time throughout the day OR at SPX 1284 close only stop, whichever comes first. If you go short, use a 10 point protective buy stop. If you go short and are not stopped out, carry the position overnight and into Friday.
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) 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.