This is Turov on Timing for Tuesday, November 30, 2010.
The SPX declined 1.64 points yesterday to close at 1187.76. TOT daily traders went 300% long at SPX 1179.02 and have held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12080.17 cumulative SPX points, compared to a gain of 728.83 points in the index itself over the same period. That’s a ratio of 16.57 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.
The odds for today are pretty straightforward (in the absence of news, of course). TOT daily traders come into today’s session 300% long. Use a breakeven stop on the position until 10:45 a.m. at SPX 1179.02, a level I do not expect the market to approach. On the upside, take your profit at SPX 1197.50. At 10:45, if still long, sell the position at the market. Also at 10:45, go 200% short at the market. Use a 10 point protective buy stop on the short. If still short as we approach the close, cover the 200% short position at the market on the close. Also on the close, reestablish the 300% long position at the market and hold that position overnight and into Wednesday.
Tthanks for the opportunity to be of service, and I’ll email you in 24 hours – or sooner if circumstances warrant.
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