The market waffled aimlessly until the last 60 seconds when heavy selling propelled all major market indices lower. When it was done, the SPX had declined by 2.55 points, to close at 2019.64. TOT daily traders went 300% short on the opening and have held the position overnight and into today (although I am aware that some traders may have closed out the position, unaware of the weakness in the last minute of trading).
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 16384.37 cumulative SPX points, compared to a gain of 1560.71 points in the index itself over the same period. That’s a ratio of 10.50 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +10.50 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated November 5, 2015) The super long term perspective (i.e., it’s a prediction, not a forecast!) for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I expect that our new 2016-elected President will have some very serious problems during his/her single term in office.
(The commentary in this paragraph last updated March 8, 2016.) After booking 110 points on the short side, as of February 16, the Intermediate Term Model had booked 65 points on the long side and had reversed to short. The Intermediate Term model remains bearish, recent gains in the major indices notwithstanding.
The daily model is bearish today. TOT daily traders come into today’s session 300% short. Lower your protective buy stop on the position slightly to SPX 2033. If not stopped out and if the SPX is closing down on the day today, carry the position overnight again and into tomorrow. If not stopped out and if the SPX is closing up on the day today, cover the short on the close.
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 © 2016 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 including the fact that past performance is not a guarantee of future performance. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.