This is “Refuge Dan” with Turov on Timing for Tuesday, October 23, 2007.
The SPX advanced 5.7 points yesterday to close at 1506.33. TOT daily traders were on the sidelines for the session.
TOT daily traders have outperformed the SPX in 12 of the past 16 weeks, many of those by wide margins.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10102.94 cumulative SPX points, compared to a gain of 1047.40 points in the index itself over the same period. That’s a ratio of 9.65 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. Although I don’t expect much more net selling this month, November could get nasty.
The daily model is bullish today. However, futures are up about 7 points overnight as I write this, and I’d be surprised if the market advanced more than that amount on the day. So buying at the get-go would be ill-advised. However, if the market is able to hold its gain through the first 75 minutes of trading, then I’d want to take a small position. So, if the SPX is in positive territory at 10:45 a.m. Eastern time, TOT daily traders are advised to go 200% long at the market at that time. If you go long, use a 7 point protective sell stop on the position. Win, lose, or draw, liquidate your position on the close and go overnight flat.
Personal note: So far, when I call my office voice mail phone, I still get my answering machine, so it appears my home/office is still standing. This is good!
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.