The SPX advanced a tiny 0.16 point yesterday to close at 1744.66. TOT Intermediate Term traders were 100% long for the session and remain so, while TOT daily traders went an unleveraged 100% short at SPX 1738 on Friday and have held the position since then and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13567.81 cumulative SPX points, compared to a gain of 1285.73 points in the index itself over the same period. That’s a ratio of 10.55 to one.
(The commentary in this paragraph last updated June 28, 2013) The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I continue to expect the market to suffer more pain before the primary bear market is over, some years in the future.
(The commentary in this paragraph last updated October 18, 2013) The Intermediate Term Model remains bullish. The market is now above its previous high, as was expected, and I expect it to move higher yet – before it crashes.
On yesterday’s message, I said that the daily model was “bearish but not by much.” Well, 0.16 certainly gets us close to the “not by much” part! TOT daily traders come into today’s session with an unleveraged 100% short position. Increase that by 2 units to a total of 3 by going an additional 200% short at SPX 1744 stop or at SPX 1750 limit, whichever comes first. Use a protective buy stop on the entire position 10 points above where you add on the position today.
Turov on Overnight Possibilities began its service yesterday. If you think you should have received an email yesterday afternoon, but did not, please email me now and let me know.
Thanks for the opportunity to be of service, and I’ll email you again later in today’s trading session.
Turov on Timing is Copyright © 2013 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.