This is Turov on Timing for Thursday, June 22, 2006
The SPX advanced 12.08 points yesterday to close at 1252.20. TOT daily traders took a 6 point scalping loss on 3 units and are currently on the sidelines.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8887.96 cumulative SPX points, compared to a gain of 793.27 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.
Both the long and short term models remain bearish.
The directional component of the daily model is bearish today, but the risk component is too high to justify a leveraged short position. Remain on the sidelines awaiting a better risk-reward opportunity.
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 (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.