This is Turov on Timing for Tuesday, November 6, 2012.
The good news of the day: No more election advertisements for about another 1½ years! The bad news of the day: For each office up for grabs, national and local, one of the candidates will win today! (And if we listen to his opponent’s advertisements, he’s certainly not fit for the job! – But I just love those “My worthy opponent” concession speeches.)
The SPX advanced 3.06 points yesterday to close at 1417.26. TOT daily traders went 200% long at SPX 1414 Thursday and took profits at SPX 1430 Friday. TOT daily traders then went 200% long again at SPX 1421 Friday and were stopped out at SPX 1412 yesterday before the rally into the close. All TIG managed accounts stayed long for the entire session as they do not use stops.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13401.89 cumulative SPX points, compared to a gain of 958.33 points in the index itself over the same period. That’s a ratio of 13.98 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 (and at present, my best educated guess is that it has not ended, but it will end later this year or early next), expect another nasty crash – which may be an extended slide – to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model has downticked from bullish to bearish. Repeating, the Intermediate Term Model is now bearish (albeit not by much).
The daily model is bearish today. TOT daily traders are advised to go 200% short at SPX 1417 stop or at SPX 1421 limit, whichever comes first. Once short, use a 1% protective buy stop on the position.
Thanks for the opportunity to be of service, and I’ll update again sometime during today’s trading session.
Turov on Timing is Copyright © 2012 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. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.