This is Turov on Timing for Tuesday, December 12, 2006.
The SPX advanced 3.20 points yesterday to close at 1413.04. TOT daily traders were on the sidelines for the session as our entry level target was not reached.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8862.84 cumulative SPX points, compared to a gain of 954.11 points in the index itself over the same period. That’s a ratio of 9.29 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 bearish today. TOT daily traders are advised to go 200% short at SPX 1410.50 stop or at SPX 1417.50 limit, whichever comes first. If you go short, use a 10 point protective buy stop. If not stopped out, carry your position overnight and into tomorrow.
If the market cannot start moving lower by the close of trading on Thursday, then the odds increase significantly that it won’t anytime soon. We shall see.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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.