This is Turov on Timing for Tuesday December 11, 2007.
A crappy day for the home team – to use the vernacular – as the SPX advanced 11.3 points yesterday to close at 1515.96. TOT daily traders took a scalping loss of 10 points on three units.
TOT daily traders have outperformed the SPX in 17 of the past 23 weeks although not during the past two nor during the current one so far.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10225.86 cumulative SPX points, compared to a gain of 1057.03 points in the index itself over the same period. That’s a ratio of 9.67 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.
The intermediate term model remains bearish. The market has now rallied to an area where further gains are likely to be labored – or non-existent.
The directional component of the daily model is bullish today, but the risk component of the model is in the stratosphere. Just as well, perhaps, as the Fed meeting this afternoon is likely to create a situation where any close stops – on either side of the market – are likely to be hit. We will stand aside and let the Fed meeting devotees pull their hair out.
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 © 2007 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.