This is Turov on Timing for Thursday, November 16, 2006.
The SPX advanced 3.35 points yesterday to close at 1396.57, after briefly exceeding 1400 – but obviously not holding. 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 8887.84 cumulative SPX points, compared to a gain of 937.64 points in the index itself over the same period. That’s a ratio of 9.48 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.
Both the long and short term models remain neutral.
The daily model is neutral today, and it’s almost certain to be neutral again tomorrow. One can’t help but be impressed with the resilience of this market on one hand – and its over-extension on the other. Stand aside and await a better risk/reward opportunity.
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 © 2006 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.