This is Turov on Timing for Thursday, June 15, 2006.
The SPX advanced 6.35 points yesterday to close at 1230.04. TOT daily traders went 200% long at SPX 1225 and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8868.00 cumulative SPX points, compared to a gain of 771.11 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.
The long term model remains neutral, and the short term model remains bullish.
The daily model is neutral today, and the market has no true direction for the extremely short term. Yesterday’s dead cat bounce will likely continue if there’s no negative news, but any substantive negative news could send the market diving again. TOT daily traders come into today’s session 200% long from SPX 1225. Raise your stop to an SPX 1225 breakeven. If the SPX advances to 1235, raise your stop to SPX 1230, and for each additional 5 point advance, raise your stop by an equivalent 5 points. If not stopped out, carry your position overnight and into tomorrow EXCEPT that if the SPX is closing down on the day (i.e., between 1225.01 and 1230.03) take your profit on the close and go overnight flat.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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.