Another good day for the home team as The SPX advanced 22.06 points yesterday to close at 1153.84. TOT daily traders went 300% long at SPX 1108 on Friday and have held the position since then and into today.
The super long term perspective for the stock market remains bearish.
Both the long and short term models remain bullish.
The market is obviously ripe for some profit taking, but the trend is intact, and the rally should continue. TOT daily traders are advised to hold tight, weather any modest profit taking, and expect some further gains. Raise your stop to SPX 1138 to lock in 30 points. 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 6784.32 cumulative SPX points compared to a gain of 694.91 points in the index itself over the same period.
Thanks for calling, and I’ll speak with you again in 24 hours.