This is Turov on Timing for Tuesday, June 16, 2009.
The Standard & Poor’s 500 Index (“SPX”) declined 22.49 points yesterday to close at 923.72. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11038.84 cumulative SPX points, compared to a gain of 464.79 points in the index itself over the same period. That’s a ratio of 23.75 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that after a solid cyclical advance later this year, the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices next year. But we’re certainly not at that point yet.
The Intermediate Term Model remains bearish, although I think we should see some improvement there by Independence Day.
Expect the market to be strong in the early going and then give back those gains as the day progresses. TOT daily traders are advised to go 400% long at the first sign of strength at SPX 924 stop. If the SPX declines to 920 before breaching 924, lower your stop to SPX 922, and for each subsequent 2 point decline, lower your entry buy stop by an equivalent 2 points. Once you have gone long, use a 1% sell stop on the position. At 10:45 a.m., completely reverse the position and go 400% short at the market then. Use a 1% buy stop on that new position. HOWEVER, I will be monitoring the market carefully, and if there is any change in the recommendation, I will email you intraday. If I haven’t done so before 3:50 p.m., I will do so then.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
Turov on Timing is Copyright © 2009 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.