This is Turov on Timing for Thursday, March 13, 2008.
My apologies for the delay in transmission of today’s message. I very rarely get sick, but I have a debilitating cough and sore throat that has knocked me for a loop.
The SPX declined 11.88 points yesterday to close at 1308.77. TOT daily traders went 400% long on Tuesday’s opening and took profits yesterday at SPX 1312 after narrowly missing our SPX 1334 objective (the day’s high was 1,333.26).
Over the past 36 weeks, TOT daily traders have outperformed the SPX 22 times and underperformed 14 times and are ahead so far this week.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10144.36 cumulative SPX points, compared to a gain of 849.84 points in the index itself over the same period. That’s a ratio of 11.94 to one.
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 intermediate term model remains bullish. While my gut feeling is that this nascent rally is suspect, my indicators give evidence that it has further to go. .
Yesterday’s rally was cut short by surging oil prices and continuing weakness in the dollar. It will be difficult for the market to make sustained headway unless oil weakens and the dollar strengthens.
We are currently flat. Considering the sharp market decline this morning, coupled with my illness (which I hope will be over in a day or two), I’m not going to trust my fever-affected judgment by suggesting anything. Stand aside.
AT THIS TIME, I DO NOT KNOW IF I WILL PUBLISH TOT TOMORROW, FRIDAY, BUT IF YOU DO NOT RECEIVE A TOT TOMORROW, PLEASE DO NOT BE CONCERNED. I am certain this medical issue is not a long-term matter.
Thanks for the opportunity to be of service, and I’ll email you again either six hours before the start of Friday’s session or six hours before the start of Monday’s session, depending on the aforementioned health issue.
Turov on Timing is Copyright © 2008 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.