This is Turov on Timing for Thursday, October 8, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 2.85 points yesterday to close at 1057.57. After two big profit days on Monday and Tuesday, TOT daily traders took a small loss in the morning and a slightly larger gain in the afternoon, for our third profit day this week. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11141.22 cumulative SPX points, compared to a gain of 598.64 points in the index itself over the same period. That’s a ratio of 18.61 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 daily model is bullish today, but futures are already up a full percentage point in overnight trading, and there’s a decent chance that that will be all of the day’s gain. So recommending going long would be honest, yet somehow disingenuous. We will stand aside. I will be out of the office at a seminar in Los Angeles all day today, so the next email will be in about 24 hours.
Thanks for the opportunity to be of service, and I’ll email you again tomorrow.
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.