A nice recovery for the home team as the SPX declined 8.29 points yesterday to close at 1746.38. TOT daily traders came into the session 300% short and covered the short at SPX 1747. We are currently flat.
Turov on Overnight Possibility traders went long the SPX ETF (SPY) on Wednesday’s close. It is my intention to email all TOP subscribers a full history track record (which right now is just a few days) each Saturday or Sunday. A copy of that same track record will be sent to any TOT subscriber who is not currently a TOP subscriber by emailing firstname.lastname@example.org anytime from Friday 4:00 pm to Saturday noon. Email requests at other times might not receive a response because of logistical considerations.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13571.47 cumulative SPX points, compared to a gain of 1287.45 points in the index itself over the same period. That’s a ratio of 10.54 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 18, 2013) The Intermediate Term Model remains bullish. The market is now above its previous high, as was expected, and I expect it to move higher yet – before it crashes.
Yesterday’s message forecast the “likelihood of weakness in the morning, followed by a partial recovery later in the day,” which is exactly what happened. Today, the daily model is bullish. TOT daily traders are advised to go 300% long at SPX 1747 stop or at SPX 1737 limit or at the market at 9:35, whichever event occurs first. Once long, use a 1% protective sell stop on the position until 10:45. At 10:45, if the SPX is down on the day, sell your position at that time and move to the sidelines. At 10:45, if the SPX is up on the day, raise the stop to 10 points below the 10:45 price. If still long as we approach the close, sell the position on the close and go overnight flat.
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.