This is Turov on Timing for Tuesday, February 5, 2008.
The SPX declined 14.60 points yesterday to close at 1380.82, reversing most of Friday’s gain. TOT daily traders came into the session 200% long from Thursday night and carried that position overnight again and into today.
TOT daily traders have outperformed the SPX in 20 of the past 31 weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10093.23 cumulative SPX points, compared to a gain of 921.89 points in the index itself over the same period. That’s a ratio of 10.95 to one.
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 bullish.
The daily model is bullish today. However, the market MUST advance in the first 75 minutes of trading or I think it will be in trouble. TOT daily traders come into today’s session 200% long. Continue to hold the position, and for the time being, use no stop on your long position. I will update with an interim email at 10:50 a.m.
Thanks for the opportunity to be of service, and I’ll email you again at 10:50 a.m.– or sooner if circumstances warrant.
Turov on Timing is Copyright © 2008 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.