The SPX advanced 3.95 points yesterday to close at 1168.26. TOT daily traders went 300% long at SPX 1165 and have held the position overnight and into today.
The super long term perspective for the stock market remains bearish.
Both the long and short term models remain bullish.
Partially because of poor volume, but more importantly because of deterioration in a number of internal component indicators, the daily model is slightly bearish today. TOT daily traders come into today’s session 300% long. Liquidate your position at the market and go an unleveraged 100% short at the same time. Use a 10 point protective stop on your short. I don’t expect any downturn to last long or be dramatic, but it is a worthwhile minor trade. If not stopped out, carry your position overnight and into tomorrow.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6836.58 cumulative SPX points compared to a gain of 709.43 points in the index itself over the same period.
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