This is Turov on Timing for Thursday, September 10, 2009.
Not one of our better days yesterday. The Standard & Poor’s 500 Index (“SPX”) advanced 8.99 points yesterday to close at 1033.37. TOT daily traders went 300% short at SPX 1025.36 and were stopped out at SPX 1033. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11072.03 cumulative SPX points, compared to a gain of 574.44 points in the index itself over the same period. That’s a ratio of 19.27 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.
TOT daily traders went 300% short on yesterday’s close and have held the position overnight and into today. Use a protective buy stop on the position at SPX 1052.
Thanks for the opportunity to be of service, and I’ll email you again between 10:45 and 10:55 a.m. with an advisory for the balance of the day.
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.