This is Turov on Timing for Tuesday, August 2, 2011.
The August monthly Turov on Timing is attached to this email.
The SPX declined 5.34 points yesterday to close at 1286.94. 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 12469.08 cumulative SPX points, compared to a gain of 828.01 points in the index itself over the same period. That’s a ratio of 15.06 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.
Overnight futures are soft, primarily because Asian markets are very soft. However, the daily model is bullish today, and the NASDAQ model is indicating that if the early going is strong, the balance of the day should follow suit nicely. We could see a lot of short covering today.
I want to go long at the first sign of strength. TOT daily traders are advised to go 400% long at SPX 1288 stop. If the SPX declines to 1284 before reaching 1288, lower that entry buy stop to SPX 1286. And for each additional 2 point decline, lower that entry buy stop by an equivalent 2 points. If and when you go long, use a 1% protective sell stop on the position.
Thanks for the opportunity to be of service, and I will have an intraday update sometime during the trading session.
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.