The SPX advanced 1.08 point yesterday to close at 879.93. TOT daily traders went 100% long on the opening and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 7497.36 cumulative SPX points compared to a gain of 421.00 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish.
The long term model remains neutral, and the short term model remains bullish.
My advice yesterday that “I’d be somewhat reluctant to be too aggressive,” was well placed, as the market gave back most of its early gains. However, virtually no structural damage was done to market internals, and the market should be able to continue its advance today.
TOT daily traders come into today 100% long. Increase your position by going an additional 100% long at the market. Continue to use a protective sell stop at SPX 870. If not stopped out, carry your position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright (c) 2003 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the publisher.