This is Turov on Timing for Tuesday, November 23, 2010.
The SPX declined 1.89 point yesterday to close at 1197.84. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12053.95 cumulative SPX points, compared to a gain of 738.91 points in the index itself over the same period. That’s a ratio of 16.31 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 bearish.
Despite overnight futures being down about ½ dozen points as I write this, I expect to see the market quite strong in the early going BUT if it fails to do that, I then expect to see some heavy later day selling. TOT daily traders are advised to go 400% long at SPX 1192 limit or at SPX 1199 stop, or at the market at 9:45, whichever of those three occurs first. Once you go long, use a 1% protective sell stop on the position. I’ll update at 10:50 a.m.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
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.