The SPX advanced 15.6 points yesterday to close at 2021.15. TOT daily traders went 300% short on Friday’s opening and took profits on yesterday’s opening.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 16009.44 cumulative SPX points, compared to a gain of 1562.22 points in the index itself over the same period. That’s a ratio of 10.25 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +10.25 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated November 5, 2015) The super long term perspective (i.e., it’s a prediction, not a forecast!) for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I expect that our new 2016-elected President will have some very serious problems during his or her single term in office.
(The commentary in this paragraph last updated December 22, 2015.) The Intermediate Term Model has upticked from bearish to bullish. I expect the next 50 SPX points to be up. After that, the situation gets a lot less clear.
On yesterday afternoon’s Turov on Overnight Possibilities, I said, “The daily model will be bearish tomorrow [Tuesday] (but) the Index models are all bullish, with the Nasdaq 100 Index model particularly bullish.” While I do prefer the Nasdaq 100 as the best trading vehicle this morning, Turov on Timing is an SPX-based service. TOT daily traders are advised to go 200% long at SPX 2023 stop or at the market at 9:45 a.m., whichever comes first, despite the conflict between the Daily and Index models. However, because of that conflict, I recommend a rather tight ½% stop on the long position, once taken.
Thanks for the opportunity to be of service, and I’ll update again later during today’s trading session.
Turov on Timing is Copyright © 2015 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 including the fact that past performance is not a guarantee of future performance. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.