This is Turov on Timing for Tuesday, August 16, 2011.
The SPX advanced 25.68 points yesterday to close at 1204.49. TOT daily traders went 200% short on the close at SPX 1204.49 and have held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12483.16 cumulative SPX points, compared to a gain of 745.56 points in the index itself over the same period. That’s a ratio of 16.74 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 bearish.
The daily model is bearish today. TOT daily traders come into today’s session 200% short. Raise that short position by going ad additional 100% short at SPX 1204 stop, and another 100% short at SPX 1198 stop. On the upside, use a 10 point protective buy stop on each position, calculated separately.
I’ll update again between 10:45 and 10:55 a.m.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
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