This is Turov on Timing for Tuesday, December 8, 2009.
The Standard & Poor’s 500 Index (“SPX”) declined 2.73 points yesterday to close at 1103.25. TOT daily traders went 400% long at SPX 1107.94 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 11206.31 cumulative SPX points, compared to a gain of 644.32 points in the index itself over the same period. That’s a ratio of 17.39 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 bearish, but not by much.
The daily model is bullish today, but I don’t expect to see a lot of fireworks. A test of recent highs between 1110 and 1115 is possible. TOT daily traders come into today’s session 400% long. Maintain your protective sell stop on the position at SPX 1096.86. If not stopped out by 3:45, I’ll update again by 3:55. Otherwise, the next update will be six hours before the start of tomorrow’s trading session.
Thanks for the opportunity to be of service, and I’ll email you as per the prior paragraph – or sooner if circumstances warrant.
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