This is Turov on Timing for Thursday, October 15, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 18.83 points yesterday to close at 1092.02 on the heels of Intel’s better than expected earnings. For the first time this month, TOT daily traders had a losing session, having gone 200% short at SPX 1083.50 and then having held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11156.58 cumulative SPX points, compared to a gain of 633.09 points in the index itself over the same period. That’s a ratio of 17.62 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2010 or 2011. But we’re certainly not at that point yet.
The Intermediate Term Model remains bullish.
The odds favor a weak early morning today. TOT daily traders come into the session 200% short. I am going to recommend not using a stop on the position, but I will be at my desk, monitoring it closely. I will update no later than 11 a.m.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
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