This is Turov on Timing for Thursday, June 10, 2010.
Another good day for the home team. The Standard & Poor’s 500 Index (“SPX”) declined 6.35 points yesterday to close at 1055.65. TOT daily traders went 200% long at SPX 1045 on Tuesday and took profits yesterday at SPX 1064. We then went 300% short at SPX 1066.35 and took profits on that trade, as well, covering the position on the SPX 1055.65 close. I don’t “play” the market for fun, but it surely is fun when we have a profit on both sides of the market in a single day! SPECIAL SUBSCRIBER BONUS, GOOD ONLY TODAY! Buy a one year gift subscription for a friend OR have him buy one for himself and I’ll extend YOUR subscription FREE for a year as well! Remember, this is a one-day “I’m feeling really good” offer only. The direct subscription web address is https://www.mcssl.com/SecureCart/Checkout.aspx?mid=BFE22861-A1A0-4607-89F9-0B0EBCD02F49&sctoken=c3926f9c5aa440e2b62a431158d3df07&bhcp=1
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12049.38 cumulative SPX points, compared to a gain of 596.72 points in the index itself over the same period. That’s a ratio of 20.19 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then) but the current cyclical bull market probably has further to go before topping out – although with each passing day I’m getting less sanguine about that!
The Intermediate Term Model remains bearish.
If this is still a cyclical bull market, I’d expect the market to be up this morning. If, however, we are now in a cyclical bear market, I’d expect the market to be down this morning. The problem is that the market is at a critical point where it will either recover, confirming the continuation of the cyclical bull, or it will decline further, indicating that a cyclical bear has begun. It simply isn’t clear. And we will find refuge in the fog and stand aside – at least for the time being.
Once again, my NASDAQ model is speaking when my S&P model is not. I expect it to move higher once the morning fog lifts. I will update sometime between 10:00 and 11:00 with further commentary and perhaps a recommendation.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
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