This is Turov on Timing for Tuesday, January 2, 2001, the first trading session of the 21st century.
The SPX declined 13.93 points Friday to close at 1320.28. TOT daily traders came into the session 400% long and took a substantial profit at SPX 1333.21.
The bond model remains neutral, and the gold model remains bullish.
The super long term perspective for the stock market remains bearish.
However, both the long-term model (a six month perspective) and short term model (a one month perspective) remain bullish.
The daily model is neutral as we come into today, but the odds are pretty good for a decent buying opportunity either later today or early tomorrow. Should such an opportunity arise today, I’ll issue a special intraday hotline report, and will report on same via email communication to subscribers.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6000.24 cumulative SPX points, compared to a gain of 861.35 points in the index itself over the same period.
Thanks for calling, and I’ll speak with you again in 24 hours, unless there’s an earlier special hotline.