The SPX advanced 16.03 points yesterday to close at 914.84. TOT daily traders went 200% long at SPX 917.50 and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 7473.98 cumulative SPX points compared to a gain of 455.91 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish. We remain in a major primary bear market. However:
The long term model, after having been neutral for months, has upticked to bullish. The short term model which has been bullish for awhile, remains so. Repeating, both the long and short term models are bullish.
The daily model is very bullish today. TOT daily traders come into today’s session 200% long. Go an additional 300% long at SPX 915.55 stop or at SPX 910.70 limit, whichever comes first. This will bring our position to a maximally bullish 500% long. Use a protective sell stop on the entire position at SPX 896. This is a big position, with a wide stop, and I’m looking for a big gain. The potential exists for a rally up to as high as SPX 960, and for it to occur by the end of the week. Of course, we’ll need a positive news catalyst and an absence of any substantive negative news for that to occur, but the pieces are in place for the market to shoot through the 920ish resistance, and for the shorts to run for cover.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances warrant.
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