This is Turov on Timing for Thursday, June 18, 2009.
After booking a large profit on Tuesday, TOT daily traders booked a tiny loss yesterday as the Standard & Poor’s 500 Index (“SPX”) declined 1.26 point yesterday to close at 910.71. TOT daily traders went 400% long on the opening at SPX 911.89 and have carried the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11080.04 cumulative SPX points, compared to a gain of 451.78 points in the index itself over the same period. That’s a ratio of 24.53 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 I think we should see some improvement there by Independence Day.
The daily model is mixed today. I expect to see some strength in the early going, followed by weakness later in the session. TOT daily traders come into today’s session 400% long. Maintain the position but raise the stop to SPX 705. If the SPX advances to 915, raise your stop to 910. If not stopped out prior to 10:00 a.m., liquidate the position at that time and move to the sidelines for the balance of the session.
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 © 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.