This is Turov on Timing for Tuesday, October 16, 2007.
A good day for the home team. The SPX declined 13.09 points yesterday to close at 1548.71. TOT daily traders went 400% long at SPX 1555.41 on Friday, and then simultaneously took profits AND went 300% short at SPX 1562 yesterday. We have held the position overnight and into today.
TOT daily traders have outperformed the SPX in 11 of the past 15 weeks and are ahead of the game so far this week.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 9963.39 cumulative SPX points, compared to a gain of 1089.78 points in the index itself over the same period. That’s a ratio of 9.14 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 intermediate term model remains bearish.
The daily model is bullish today. I expect the market to continue slightly higher this morning and then move higher yet as the day moves on – but probably not by much. TOT daily traders come into today’s session 300% short. Cover your short position AND simultaneously go 300% long at the market. Use a 10 point protective sell stop on the new position. If not stopped, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
Turov on Timing is Copyright © 2007 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.