This is Turov on Timing for Thursday, February 7, 2008.
The SPX declined 10.19 points yesterday to close at 1326.45. TOT daily traders were on the sidelines for the session.
TOT daily traders have outperformed the SPX in 20 of the past 31 weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10001.59 cumulative SPX points, compared to a gain of 867.52 points in the index itself over the same period. That’s a ratio of 11.53 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 remains bullish.
After the close yesterday, Cisco announced earnings expectations. Not good. In overnight trading, Cisco is down about 8%, and that in turn is bringing NASDAQ futures down 1.5%, and that in turn is bringing down S&P futures by ¾%.
The market is obviously going to respond to this news when it opens at 9:30. What will be important is how it acts after the opening. Stand aside for now, and I’ll email you again at 10:50 a.m. with an interim update.
Thanks for the opportunity to be of service, and I’ll email you again at 10:50 a.m.– or sooner if circumstances warrant.
Turov on Timing is Copyright © 2008 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.