This is Turov on Timing for Thursday, May 26, 2011.
The SPX advanced 4.19 points yesterday to close at 1320.47. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12462.49 cumulative SPX points, compared to a gain of 861.54 points in the index itself over the same period. That’s a ratio of 14.47 to one.
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). When the current cyclical bull market ends, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bearish although I am not looking for any waterfall decline anytime soon.
As was the case Tuesday, the late day selloff yesterday adds uncertainty to today’s forecast. I’m somewhat hesitant to risk capital right now, but the daily model is bullish, and going long makes sense. TOT daily traders are advised to go 300% long at SPX 1321 stop or at SPX 1316 limit, whichever comes first. Once long, use a ¾% sell stop on the position. On the upside, if the SPX reaches 1332, take your profit. If still long as we approach the close, sell the position 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 © 2011 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.