This is Turov on Timing for Tuesday, December 29, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 1.3 point yesterday to close at 1127.78. TOT daily traders went 400% short at SPX 1130 and have held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11243.75 cumulative SPX points, compared to a gain of 668.85 points in the index itself over the same period. That’s a ratio of 16.81 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2011 or 2012. But we’re certainly not at that point yet.
The Intermediate Term Model remains bullish.
The daily model is modestly bearish today, although if there’s selling in the morning, the afternoon could stabilize.
TOT daily traders come into today’s session 400% short. Respecting a risk component of the daily model that is very close to being at the excessive level, lower your protective buy stop on the position to a tight (and breakeven level of) SPX 1130. If not stopped out, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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