This is Turov on Timing for Tuesday, October 2, 2007.
The October monthly issue of Turov on Timing is attached to today’s daily email.
A super start for the home team as the SPX advanced 20.29 points yesterday to close at 1547.04. TOT daily traders went 400% long on the opening yesterday and have held the position overnight and into today.
TOT daily traders outperformed the SPX in 10 of the last quarter’s 13 weeks and are well ahead so far this week.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 9902.96 cumulative SPX points, compared to a gain of 1088.11 points in the index itself over the same period. That’s a ratio of 9.10 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. I view the 2002-2007 cyclical bull market as a partial retracement of the 2000-2002 decline (especially as regards NASDAQ, but also, inflation adjusted, as regards the SPX and the DJII). I further believe the cyclical bull market that may have ended in July or is likely to top out soon will end up being to the 2000-2015? bear market as the 1967-1968 cyclical bull market was to the 1966-1974 secular bear market, except that this time around, since the cyclical bull has been longer, I expect the secular bear will be longer also.
The intermediate term model remains bullish.
The daily model is bullish today, but if the market can’t maintain its advance in the first 75 minutes of trading, I would take profits and move to the sidelines. TOT daily traders come into today’s session 400% long. Raise your stop to SPX 1536. If the SPX is in negative territory at 10:45 a.m., Eastern time, take your profit at that time and move to the sidelines. If the SPX is in positive territory at 10:45, maintain the position and the stop. If still long on the close, carry the position overnight and into tomorrow.
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 © 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.