This is Turov on Timing for Tuesday, September 15, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 6.61 points yesterday to close at 1049.34. TOT daily traders took that point loss on three units short for the session. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11068.92 cumulative SPX points, compared to a gain of 590.41 points in the index itself over the same period. That’s a ratio of 18.75 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 market was soft yesterday morning as expected, but then the buyers came in and kept on buying. It’s been an extraordinary and in many regards, unprecedented, market. Expect the market to flirt around the SPX 1050 area for quite a while this morning. We will stand aside while it does that, but we will be looking for a trading opportunity as the session progresses.
Thanks for the opportunity to be of service, and I’ll email you again no later than 11 a.m.
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.