This is Turov on Timing for Tuesday, August 9, 2011.
The SPX declined 79.92 points yesterday to close at 1119.46. TOT daily traders were on the sidelines for the session, and we are currently flat.
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 660.53 points in the index itself over the same period. That’s a ratio of 18.90 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.
I’m embarrassed to say so, but the Intermediate Term Model remains bullish.
The market got slammed yesterday, and as I write this, just a little more than two hours after the NYSE close, the slamming continues with the QQQs down another 2%. I want to stand aside and see how things develop overnight and in Asia and Europe before reentering the fray.
Thanks for the opportunity to be of service, and I’ll email you again sometime Tuesday morning after the markets in the US have been trading for awhile.
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.