This is Turov on Timing for Tuesday, October 18, 2011.
The SPX declined 23.72 points yesterday to close at 1200.86. 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 12542.03 cumulative SPX points, compared to a gain of 741.93 points in the index itself over the same period. That’s a ratio of 16.90 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, it is quite possible that it has already ended, the major doubt factors being the upcoming presidential election, the European debt crisis, and the Congressional budget battles), expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model has upticked from bearish to bullish. Repeating, the Intermediate Term Model is now bullish.
Despite the sharp selloff after the close in IBM and related technology stocks, the daily model is bullish today. TOT daily traders are advised to go 300% long at SPX 1202 stop. If the SPX declines to 1198 before reaching 1202, lower your entry buy stop to SPX 1200. And for each additional 2 point decline, lower your entry buy stop by an equivalent 2 points. Once long, use a protective sell stop at SPX 1177. If still long as we approach the close, sell out on the close and go overnight flat.
Thanks for the opportunity to be of service, and I will update in 24 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2011 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.