This is Turov on Timing for Tuesday, November 7, 2006.
A thoroughly awful day for the home team as the SPX advanced 15.48 points yesterday to close at 1379.78. TOT daily traders went 300% short at SPX 1366 on Thursday and were stopped out at SPX 1375.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8874.16 cumulative SPX points, compared to a gain of 920.85 points in the index itself over the same period. That’s a ratio of 9.64 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
The long term model remains neutral. The short term model has upticked to neutral as well.
The daily model is also neutral today, and in the absence of significant news, the market is likely to consolidate yesterday’s gains. Stand aside for the time being and await a clearer signal.
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 © 2006 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.