A very good day for the home team as the SPX advanced 23.48 points yesterday to close at 1721.54. TOT Intermediate Term traders were 100% long for the session and remain so, while TOT daily traders were 300% long for the session, buying on the opening and selling on the close.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13574.47 cumulative SPX points, compared to a gain of 1262.61 points in the index itself over the same period. That’s a ratio of 10.75 to one.
(The commentary in this paragraph last updated June 28, 2013) The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I continue to expect the market to suffer more pain before the primary bear market is over, some years in the future.
(The commentary in this paragraph last updated October 17, 2013) The Intermediate Term Model remains bullish. The market is now only about 1% below its high, and I expect that to be exceeded, if not this month, then next.
We have a fairly unusual situation today. The daily model is solidly bearish, but ALL of my four index models are solidly bullish. This type of discrepancy happens only very occasionally, and I simply don’t know which will become preeminent. In the past, the most common resolution was a fairly flat day. In any event, I don’t want to get back into the fray under such circumstances, and we will stand aside.
Turov on Overnight Potential Update: I have now received eight solid “indications of interest.” If I receive another two – soon – I’ll start the service. Otherwise, not.
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 © 2013 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.