The SPX declined 4.13 points yesterday to close at 1262.86, essentially reversing Friday’s gain of 3.21 points. TOT daily traders were on the sidelines for both sessions.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8540.29 cumulative SPX points, compared to a gain of 803.93 points in the index itself over the same period.
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 long term model remains neutral, and the short term model remains bullish.
Although the market seems to be forming a major top, the daily model is very bullish today. TOT daily traders are advised to go 400% long at SPX 1264 stop, or at SPX 1260 limit, whichever comes first. If you go long, use a 5 point protective sell stop on half the position, and a 10 point sell stop on the other half. THIS IS STRICTLY A DAY TRADE. If not stopped out, liquidate your position on the close and go overnight flat.
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 (c) 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.