This is Turov on Timing for Tuesday, December 4, 2007.
THE DECEMBER MONTHLY TOT IS ATTACHED TO THIS EMAIL.
The SPX declined 8.72 points yesterday to close at 1472.42. TOT daily traders went 400% long at SPX 1478 and have held the position overnight and into today.
TOT daily traders have outperformed the SPX in 17 of the past 22 weeks but are behind so far this week.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10225.54 cumulative SPX points, compared to a gain of 1013.49 points in the index itself over the same period. That’s a ratio of 10.09 to one.
Bookkeeping note: On November 23, we reported that the SPX declined 17.74 points on November 21. It actually declined 22.93 points. This error has been corrected in today’s TOT.
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 direction of least resistance remains up, but the potential magnitude of any major move is down.
As I reported yesterday, approximately ¾ of the time, the market is up on the first trading day of December. Yesterday, of course, the ¼ voters won. In 2006, the first trading day of December also saw a decline; the following day the SPX rose almost 1%. Just an historical note, of course; a single event day has no statistical significance.
The daily model is slightly bullish today. TOT daily traders come into today’s session 400% long from SPX 1478. Maintain your protective sell stop at SPX 1468. If not stopped out, hold your position overnight and into tomorrow.
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.