This is Turov on Timing for Tuesday, August 29, 2006.
The SPX advanced 6.69 points yesterday to close at 1301.78. TOT daily traders went 300% short near the low for the day and covered near the high. Not the way we usually do things, I’m glad to say.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8931.68 cumulative SPX points, compared to a gain of 842.85 points in the index itself over the same period. That’s a ratio of 10.60 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.
The daily model is in reconnoiter mode today, after yesterday’s awful call. We will remain on the sidelines while the air clears.
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.