This is Turov on Timing for Tuesday, November 14, 2006.
The SPX advanced 3.52 points yesterday to close at 1384.42. TOT daily traders went 400% long at SPX 1381 and took their profit on the close at SPX 1384.42.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8887.84 cumulative SPX points, compared to a gain of 925.49 points in the index itself over the same period. That’s a ratio of 9.60 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
Both the long and short term models remain neutral.
I had expected the daily model to be neutral today, but it actually is bearish. TOT daily traders are advised to go 200% short at SPX 1384 stop or at SPX 1387 limit, whichever comes first. The strong Japanese market advance overnight might give us a decent shot at that upper number. We will hold the short for the time being without a stop, but I will have an intraday update sometime in the morning.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
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