This is Turov on Timing for Tuesday, November 2, 2010, the first day of peace from election ads in many, many long months….
THE NOVEMBER MONTHLY TUROV ON TIMING IS ATTACHED TO THIS EMAIL.
The SPX advanced 1.12 points yesterday to close at 1184.38 in the sixth “little changed” session in a row. TOT daily traders were on the sidelines for the session, heeding my advice not to buy into the opening upside gap.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11952.03 cumulative SPX points, compared to a gain of 725.45 points in the index itself over the same period. That’s a ratio of 16.48 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). I am uncertain whether the previous 2010 high will be tested or not – in either event, prior to another nasty crash.
The Intermediate Term Model remains bullish.
The Daily Model is slightly bullish today, but the potential for downside calamity is high. While I rarely pay attention to the news, I think that if exit polls are showing more strength for Democrats than the pundits predict, the market could get hit with some very heavy selling. On the other hand, if exit polls are showing strength for Republicans – as expected – the market is likely to respond with a “ho-hum.” Despite a bullish Daily Model, I’m much more comfortable standing aside.
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 © 2010 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.