This is Turov on Timing for Thursday, October 29, 2009.
A horrid day for the market as the Standard & Poor’s 500 Index (“SPX”) declined 20.78 points yesterday to close at 1042.63. We didn’t have such a great time of it either as TOT daily traders took a 1% loss times 3 units.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11138.92 cumulative SPX points, compared to a gain of 583.70 points in the index itself over the same period. That’s a ratio of 19.08 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 mid to late 2010, leading to a possible end to that decade long perspective at lower prices in 2011 or 2012. But we’re certainly not at that point yet.
The Intermediate Term Model remains bullish but weakening.
Seasonality comes into play today, the penultimate day of October. The odds are good that the market will do well in the early going at least, although the afternoon is less “certain.” TOT daily traders are advised to go 300% long at SPX 1043 stop. If the SPX declines to 1040 before reaching 1043, lower your entry buy stop to SPX 1042, and for each additional 1 point decline, lower your entry buy stop by an equivalent 1 point. If and when you go long, use a 1% sell stop on the position. If still long at 10:45, I’ll update by 11:00 a.m.. Otherwise, the next update will be in 24 hours.
Thanks for the opportunity to be of service, and I’ll email you again in as per the previous paragraph.
Turov on Timing is Copyright © 2009 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.