This is Turov on Timing for Thursday, June 24, 2010.
The SPX declined 3.27 points yesterday to close at 1092.04. TOT daily traders went 200% short at SPX 1095 and took profits at SPX 1088.91. We then went long but were later stopped out of that position at a breakeven. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12061.16 cumulative SPX points, compared to a gain of 633.11 points in the index itself over the same period. That’s a ratio of 19.05 to one.
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, most likely in 2012, but not necessarily at significantly higher levels than at present.
The Intermediate Term Model remains bullish.
Considering how bad the housing numbers were yesterday, it’s amazing the market held up as well as it did.
The daily model is bullish today. TOT daily traders are advised to go 300% long at SPX 1094 stop or at SPX 1088 limit, whichever comes first. However, if neither level is reached by 10:15, cancel the recommendation and stand aside. If you go long, use a 1% protective sell stop on the position.
Thanks for the opportunity to be of service, and I’ll email you again at 10:50 – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2010 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.