This is Turov on Timing for Thursday, May 5, 2011.
The SPX declined 9.30 points yesterday to close at 1347.32. TOT daily traders took a ¾% loss on a two unit position. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12387.52 cumulative SPX points, compared to a gain of 888.39 points in the index itself over the same period. That’s a ratio of 13.94 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 bullish.
I’m getting very mixed signals for the early going today, although there is a modest bullish bias. Stand aside until 10:45. I’ll update again shortly after that time.
Thanks for the opportunity to be of service, and I’ll update between 10:45 and 10:55 a.m. – or sooner if circumstances warrant.
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