This is Turov on Timing for Thursday March 6, 2008.
The SPX advanced 6.95 points yesterday to close at 1333.70. TOT daily traders were on the sidelines for the session. We are currently flat.
Over the past 35 weeks, TOT daily traders have outperformed the SPX 22 times and underperformed 13 times, a ratio of 1.7 to 1.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10101.24 cumulative SPX points, compared to a gain of 874.77 points in the index itself over the same period. That’s a ratio of 11.55 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.
While the bear market is far………………. from over, the ability of the market to stabilize and advance on Wednesday following Tuesday’s spike reversal, combined with internal indicator improvement, has upticked the intermediate term model from bearish to bullish. Repeating, THE INTERMEDIATE TERM MODEL IS NOW BULLISH.
On yesterday’s hotline, I said, “My NASDAQ model went rather bullish last night, and I think we’ll see that market do well in the early going.” That is, indeed, what occurred. And it’s likely to occur again today, especially with the improvement in the intermediate term model.
TOT daily traders are advised to go 300% long at the market. If you go long, use a 1% cash management protective sell stop. If not stopped out, carry your position overnight and into tomorrow.
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 © 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.