This is Turov on Timing for Tuesday, August 30, 2011.
The SPX advanced 33.28 points yesterday to close at 1210.08. 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 12564.18 cumulative SPX points, compared to a gain of 751.15 points in the index itself over the same period. That’s a ratio of 16.73 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 (and at present, it is quite possible that it has already ended, the major doubt factor being the upcoming presidential election), 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 are advised to go 300% short at SPX 1208 stop. If the SPX advances to 1212 before reaching 1208, raise your entry sell stop to SPX 1210. And for each additional 2 point advance, raise your stop by an equivalent 2 points.
Once short, use a 1% protective buy stop on the position.
If we are still short at the indicated time of the below updates, then:
If the NASDAQ 100 Index is up on the day at 10:45, I’ll have an intraday update at 10:50.
If the NASDAQ 100 Index is down on the day at 10:45, I’ll have an intraday update at 3:50.
If we are not still short at the indicated time of the above updates, then the update will not necessarily occur.
Thanks for the opportunity to be of service, and I’ll email you again as indicated above – or sooner if circumstances warrant.
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.