This is Turov on Timing for Tuesday, August 15, 2006.
The SPX advanced 1.47 point yesterday to close at 1268.21. 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 8992.04 cumulative SPX points, compared to a gain of 809.28 points in the index itself over the same period. That’s a ratio of 11.11 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
Both the long and short term models remain neutral.
After a strong opening on the surprise initial success of the mid-East truce, market action yesterday was awful, and it’s likely to continue today. TOT daily traders are advised to go 300% short at SPX 1270 limit or at SPX 1267 stop, whichever comes first. If you go short, use a 10 point protective buy stop on your position. If the SPX declines by 10 points from your initiation level, then lower your stop by 10 points to a breakeven. 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 © 2006 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.