This is Turov on Timing for Thursday, November 9, 2006.
A good day for the home team as the SPX advanced 2.88 points yesterday to close at 1385.72. TOT daily traders went 400% long at SPX 1379.60 and have held the position overnight and into today. The profit on this new position is gratifyingly slightly larger than the loss on our previous Thursday-Monday short position and once again makes the point that getting distressed over individual bad trades OR getting ebullient over individual good trades are equally pointless as it is only the long term net results that truly matter.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8898.64 cumulative SPX points, compared to a gain of 926.79 points in the index itself over the same period. That’s a ratio of 9.60 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 bullish today but less so than yesterday. TOT daily traders come into today’s session 400%. Raise your stop to a breakeven 1379.60. If the SPX rises to 1390, raise your stop to SPX 1385. If the SPX rises to 1395, raise your stop to SPX 1390. And if the SPX rises to 1398, take your profit. If still long on the close, carry the 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 © 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.