A good day for the home team as The SPX declined 18.44 points yesterday to close at 1151.85. TOT daily traders went 300% short at SPX 1170 and have held the position overnight and into today.
The super long term perspective for the stock market remains bearish.
Both the long and short term models remain neutral.
The daily model is bearish today, but only slightly so. We’ll tighten our stop significantly to account for that. TOT daily traders come into today’s session 300% short. Lower your stop to a fairly close 1158. If the SPX declines to 1145, lower the stop to 1150, and for each additional 5 point decline, lower your stop by an equivalent 5 points. If still short on the close, carry your position overnight and into tomorrow.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6803.67 cumulative SPX points compared to a gain of 692.92 points in the index itself over the same period.
Thanks for calling, and I’ll speak with you again in 24 hours.