The SPX declined 8.64 points yesterday to close at 1763.31. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13569.40 cumulative SPX points, compared to a gain of 1304.38 points in the index itself over the same period. That’s a ratio of 10.40 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.
Yesterday, the market started the session well, but then failed to hold. Standing aside was a good idea. Today, even though the last day of the month is generally a seasonally favorable (i.e., bullish) day, the daily model is bearish today. TOT daily traders are advised to go 400% short at the first sign of weakness; i.e. SPX 1763 stop. If the SPX advances to 1766 before declining to 1763, raise your entry sell stop to SPX 1764. And for each further 2 point advance, raise your entry sell stop by an equivalent 2 points. If and when you go short, use a protective buy stop 10 points above your entry short level. And since, VERY preliminarily, I would expect the market to advance tomorrow, November 1, if not stopped out, cover the short on the close.
Thanks for the opportunity to be of service, and I’ll email you again in about 26 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.