This is Turov on Timing for Tuesday, January 16, 2007.
The SPX advanced 6.91 points Friday to close at 1430.73. After booking a 54 point cumulative profit on Thursday, TOT daily traders stood aside on Friday.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8881.50 cumulative SPX points, compared to a gain of 971.80 points in the index itself over the same period. That’s a ratio of 9.14 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 neutral.
On Friday I said that the key to the market was “what happens with the NASDAQ 100 and how will that impact the SPX and the Dow.” Well, NASDAQ did quite well, and it lifted the rest of the market. The odds look good for another day or two of advances prior to some potentially serious profit taking.
TOT daily traders are advised to go 400% long at SPX 1431.50, just above Friday’s high. Once you go long, use a protective sell stop at SPX 1424.50. 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 – 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.