This is Turov on Timing for Tuesday, August 22, 2006.
The SPX declined 4.82 points yesterday to close at 1297.52, a virtually precise reversal of Friday’s gain. TOT daily traders were on the sidelines for the session, as neither our limit nor our entry stop level was reached.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8962.04 cumulative SPX points, compared to a gain of 838.59 points in the index itself over the same period. That’s a ratio of 10.69 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. However, the short term model is improving within the neutral range, and there is a chance of it moving up a notch – but not just yet.
The daily model is slightly bearish today. However, even though the daily model is news neutral, I don’t always have to be. The potential news from Iran, and how the US and the UN might react to it are potentially major news factors, and I simply do not wish to be subjected to that much uncertainty. My advise is to continue to stand aside and await a less mercurial environment.
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.