As expected, the SPX advanced yesterday, but because of an upside gap opening higher than the close, TOT daily traders had a small loss on the day. The SPX
advanced .12 point yesterday to close at 1970.07. TOT daily traders went 300% long on the opening and sold the position on the close. As a side note, all
Turov on Overnight Possibilities (TOP) subscribers were advised to “Buy QQQ” (the Nasdaq 100 ETF) on Tuesday’s close, and ALL Turov Investment Group (TIG)
managed accounts (other than Program A) went 200% long the Nasdaq 100 fund on Tuesday’s close and had a .85% profit on the day, selling the position on
Wednesday’s close. For information on TOP or TIG managed accounts, please call 1-888-889-9804.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 14077.56 cumulative SPX points, compared
to a gain of 1511.14 points in the index itself over the same period. That’s a ratio of 9.32 to one. (Please note that any day in which the daily model
fails to outperform the SPX by at least a ratio of 9.32 to one, since that’s the ratio of outperformance already achieved, that ratio will decline. On a day
the market advances it will therefore almost always decline, and on a day the market declines it will almost always advance.)
(The commentary in this paragraph last updated April 15, 2014) The super long term perspective for the stock market remains bearish (as it has been since
January 2000 after having been bullish for over 25 years, from December 1974 until then). I continue to expect the market to suffer more pain before the
primary bear market is over, some years in the future (best guess: 2017 or 2018), at or below about the same Dow Jones 11,000 area as it traded in January
2000. I expect to see our new 2016-elected President have some very serious problems during his or her term in office.
(The commentary in this paragraph last updated July 30, 2014.) The Intermediate Term Model is bearish. I expect to see the SPX decline by 50-100 points from
its high by the end of September. Barring currently unknown and unknowable bad news which could cause the market to fall further than that and/or sooner
than that, I do not expect a major decline until interest rates either rise (or fall significantly because of deflation). Stable interest rates increase the
probability of the market moving sideways rather than selling off sharply – but it is unlikely they will stay stable indefinitely.
The daily model is bearish today, although most of the anticipated weakness is expected late in the session. TOT daily traders are advised to go 100% short
at the market. At 3:15 p.m., go an additional 200% short at the market. I am not recommending a stop on either position, but obviously, individuals may
choose any stop they wish, if they want to use a stop.
If the SPX is closing in a range of 1970.08 through 1992.91 (which I do not expect) carry the short positions overnight and into Friday. If the SPX is
closing out of that range, cover the position on the close and simultaneously go 200% long on the close, carrying the long position overnight and into
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 © 2014 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. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be
directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but
rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and
may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at
a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern.
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