This is Turov on Timing for Tuesday, January 9, 2007.
The SPX advanced 3.13 points yesterday to close at 1412.84. TOT daily traders went 200% short at SPX 1415 on Friday and have held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8831.82 cumulative SPX points, compared to a gain of 953.91 points in the index itself over the same period. That’s a ratio of 9.26 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.
The daily model is also neutral today, indicating that the market has no strong internal direction and will most likely drift higher unless negative news forces it lower. On the other hand, the potential for a sharp decline, while rather small, is still larger than the potential for a sharp advance.
TOT daily traders come into today’s session 200% short. Maintain your stop at a breakeven SPX 1415. 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.