This is Turov on Timing for Tuesday, November 16, 2010.
The SPX declined 1.46 points yesterday to close at 1197.75. TOT daily traders went 200% long on the opening and sold the position on the close. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11973.56 cumulative SPX points, compared to a gain of 738.82 points in the index itself over the same period. That’s a ratio of 16.21 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then). When the current cyclical bull market ends, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bullish.
The daily model has just a slight bearish bias today. I see no particular advantage of trying to play it, especially since futures overnight are already down about ¼%. Stand aside.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances warrant.
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