This is Turov on Timing for Thursday, October 13, 2011.
The SPX advanced 11.71 points Wednesday to close at 1207.25. TOT daily traders went 300% long on the opening and took profits at SPX 1211.00.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12590.27 cumulative SPX points, compared to a gain of 748.32 points in the index itself over the same period. That’s a ratio of 16.82 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 (and at present, it is quite possible that it has already ended, the major doubt factors being the upcoming presidential election, the European debt crisis, and the Congressional budget battles), 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.
On my 10:30 a.m. intraday message Wednesday, I said, “The morning’s strong advance in Apple (AAPL) looks very suspect to me, and it is behind the strength in the NASDAQ 100 Index. Furthermore, my NASDAQ model is bearish for the 10:45 through the close period.” And indeed, from 10:45 through the close, the NDX declined by .81%, from 2326.01 to 2307.18.
The daily model is quite bearish today (Thursday) and I want to go short into the first sign of weakness. TOT daily traders are advised to go 400% short at SPX 1206 stop. If the SPX advances to 1210 before declining to 1206, raise your entry sell short stop to SPX 1208. And for each additional 2 point advance, raise your entry sell short stop by an equivalent 2 points until you do go short. Once short, use a 1% protective buy stop on the position.
Thanks for the opportunity to be of service, and I will update again sometime during Thursday’s trading session.
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. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.