This is Turov on Timing for Thursday, June 11, 2009.
The Standard & Poor’s 500 Index (“SPX”) declined 3.28 points yesterday to close at 939.15. TOT daily traders went 300% long at SPX 944 and took profits at SPX 949. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11038.84 cumulative SPX points, compared to a gain of 480.22 points in the index itself over the same period. That’s a ratio of 22.99 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that after a solid cyclical advance later this year, the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices next year. But we’re certainly not at that point yet.
The Intermediate Term Model remains bearish, although after an expected interim decline, a resumption of the recent advance appears likely.
The daily model is just about as thoroughly neutral today as I have ever seen it. The market has absolutely no internal direction of its own today and will likely simply vacillate along with whatever news comes out. Stand aside.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
Turov on Timing is Copyright © 2009 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.