The SPX declined 11.58 points yesterday to close at 1087.12. TOT daily traders went 300% short soon after the opening and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8309.78 cumulative SPX points compared to a gain of 628.19 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish, and it’s unlikely anything will change that for several years.
Both the long term and short term models remain bearish.
The daily model is, as expected, neutral today, although with the short term model being so weak, it’s likely that if the market does rally today, such a rally would be reversed tomorrow. TOT daily traders come into today’s session 300% short. Maintain your position, but lower the stop to SPX 1090. On the downside, if the SPX gets to 1075, lower your stop again to SPX 1085, and for each additional 5 point decline, lower your stop by an equivalent 5 points. If not stopped out, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
Turov on Timing is Copyright (c) 2004 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.