This is Turov on Timing for Thursday, June 8, 2006.
The SPX declined 7.70 points yesterday to close at 1256.15. TOT daily traders were on the sidelines for the session.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8874.92 cumulative SPX points, compared to a gain of 797.22 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.
The long term model remains neutral, and the short term model remains bullish.
The directional component of the daily model is bearish today, but the risk component is close to maximum. The implication of that is if any positive news were to come out, the MAGNITUDE risk of being short would be excessively high. In cases of such high risk component readings, the overall daily model automatically flips into a neutral reading. Continue to stand aside, awaiting a better risk-reward opportunity.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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.