This is Turov on Timing for Thursday, June 29, 2006.
The CDs from my January seminar were mailed to everyone who ordered one, late yesterday, by USPS Priority Mail, insured. You should receive it no later than Saturday. If you still haven’t received it by Independence Day, please let me know.
The SPX advanced 6.8 points yesterday to close at 1246.00. TOT daily traders went 400% long at an average price of SPX 1242.75 and have held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8855.96 cumulative SPX points, compared to a gain of 780.27 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.
Despite the solidly bearish reading of the short term model, the daily model is again bullish today. TOT daily traders come into today’s session 400% long. Risk is higher today than yesterday. Therefore, raise your stop to a very tight SPX 1243, thereby locking on at least a minimal profit in a counter-trend speculation. If the SPX rises to 1250, raise the stop to SPX 1245, 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. HOWEVER, please note that a daily model bullish reading on the SPX is impossible for tomorrow, a bearish reading is possible, and a neutral reading is most likely. Therefore, if we do carry today’s position overnight, we will either liquidate it on Friday’s opening or raise the stop to a mere one point below today’s close and trail it tightly after that.
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.