This is Turov on Timing for Thursday, June 3, 2010.
Another superb day for the home team as the Standard & Poor’s 500 Index (“SPX”) advanced 27.67 points yesterday to close at 1098.38. TOT daily traders went 400% long at SPX 1073.01 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 11981.06 cumulative SPX points, compared to a gain of 639.45 points in the index itself over the same period. That’s a ratio of 18.74 to 1.
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.
The Intermediate Term Model remains bullish. However, it’s not a strong signal, and it could reverse as early as tonight.
The daily model is modestly bullish today. TOT daily traders come into today’s session 400% long. Raise your stop to a rather tight SPX 1092. If the SPX advances to 1102, take your profit on half the position and raise the stop on the other half to SPX 1096. If the SPX advances to 1109 prior to being stopped out, take your profit on the remaining 200% position and move to the sidelines. If still long as we approach the close, 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 – 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.