This is Turov on Timing for Tuesday, January 30, 2007.
The SPX declined 1.56 point yesterday to close at 1420.62. TOT daily traders went 400% short at SPX 1425.50 on Friday and have held the position since then and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8923.02 cumulative SPX points, compared to a gain of 961.69 points in the index itself over the same period. That’s a ratio of 9.28 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. I will discuss this “perspective” further in the February monthly issue of TOT.
The intermediate term model remains bearish.
Primarily because of late January’s historical record as the second strongest month end period of the year, the daily model has inched its way up to a neural reading today. TOT daily traders come into today’s session 400% short from SPX 1425.50. Take profits on the first sign of strength by lowering your protective buy stop to SPX 1421. If the SPX declines to 1410, lower your stop to SPX 1415, and for each additional 5 point decline, lower your stop by an equivalent 5 points. If not stopped out, carry your 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.