This is Turov on Timing for Tuesday, October 6, 2009.
THE OCTOBER MONTHLY TUROV ON TIMING IS ATTACHED TO THIS EMAIL.
A very good start for the week for the home team as the Standard & Poor’s 500 Index (“SPX”) advanced 15.25 points yesterday to close at 1040.46. TOT daily traders went 300% long on the opening and have held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11094.09 cumulative SPX points, compared to a gain of 581.53 points in the index itself over the same period. That’s a ratio of 19.08 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2010 or 2011. But we’re certainly not at that point yet.
The Intermediate Term Model remains bullish.
The daily model is bullish today. The most likely scenario, in the absence of significant news, is some modest strength in the early going, followed by some profit taking, and then followed by a solid rally late in the day.
TOT daily traders come into today’s session 300% long. Raise the protective stop on the position to SPX 1030. If the SPX advances to 1045, raise the stop to SPX 1035, and for each additional 5 point advance, raise the stop by an equivalent 5 points. If not stopped out, and if the SPX is closing at or above 1035, carry the position overnight and into tomorrow. If not stopped out, and if the SPX is closing below 1035, sell it on the close.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
Turov on Timing is Copyright © 2009 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.