This is Turov on Timing for Tuesday, June 15, 2010.
Not a good day for the home team, as the Standard & Poor’s 500 Index (“SPX”) declined 1.97 points yesterday to close at 1089.63. TOT daily traders took losses both long and short. Yuk!
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11995.92 cumulative SPX points, compared to a gain of 630.70 points in the index itself over the same period. That’s a ratio of 19.02 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then) but the current cyclical bull market probably has further to go before topping out, most likely in 2012, but not necessarily at significantly higher levels than at present.
The Intermediate Term Model remains bearish. Preliminarily, I think the low for 2010 will occur within the next month.
The odds are that the market will do today what I expected it to do yesterday – go down in the morning and up in the afternoon. Hopefully, the gods will treat us better today.
TOT daily traders are advised to go 300% short at SPX 1097 limit or at SPX 1087 stop or at the market at 9:40 a.m., whichever of those three events occurs first. Once you go short, use a 1% protective buy stop on the position until 10:45.
At 10:45, if still short, cover your position at the market.
Also at 10:45, whether or not the short position had been profitable, go 300% long at the market. Once you go long, use a 1% protective sell stop on this position. If not stopped out prior to 3:50, I’ll have an intraday update at 3:55. If you have been stopped out, the next update will be six hours before the start of Wednesday’s session.
Thanks for the opportunity to be of service, and I’ll email you again as per the prior paragraph – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2010 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.