This is Turov on Timing for Tuesday, April 26, 2011.
The SPX declined 2.13 points yesterday to close at 1335.25. 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 12402.13 cumulative SPX points, compared to a gain of 876.32 points in the index itself over the same period. That’s a ratio of 14.15 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then). When the current cyclical bull market ends, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bullish.
On yesterday’s hotline, I said, “The daily model is modestly bearish today, but not by enough to warrant risking capital,” and that pretty much summed up what happened. Today, I expect something different, specifically a decline in the morning and (probably) a rally in the afternoon. TOT daily traders are advised to go 300% short at SPX 1335 stop or at SPX 1338 limit, whichever comes first. Once short, use a 1% protective buy stop on the position. I will update again between 10:35 and 10:55.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
Turov on Timing is Copyright © 2011 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.