This is Turov on Timing for Thursday, November 18, 2010.
The SPX advanced 0.25 point yesterday to close at 1178.59. TOT daily traders went 300% long on the close and have carried the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11952.56 cumulative SPX points, compared to a gain of 719.66 points in the index itself over the same period. That’s a ratio of 16.61 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.
The daily model is very bullish today, and in the absence of unexpected negative news, we should see the market advance sharply today. TOT daily traders come into today’s session 300% long. Increase that to a maximally bullish 500% long by going an additional 200% long at the market. Use NO STOP on the position for the time being. Why? Because if the market sells off in the early going, my NASDAQ model for the afternoon is outrageously bullish. Counter-intuitive to how the market “feels”? Yup. So what… The best trades usually are.
Thanks for the opportunity to be of service, and I’ll email you again any time during the day that circumstances warrant.
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