The SPX advanced 9.61 points yesterday to close at 1697.60. TOT daily traders went 200% short near the high of the day at SPX 1701.56 and have carried the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13541.58 cumulative SPX points, compared to a gain of 1238.67 points in the index itself over the same period. That’s a ratio of 10.93 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 September 17, 2013) The Intermediate Term Model has downticked from bullish to bearish. Repeating, the Intermediate Term Model is now bearish. I said at the end of August, with the SPX at 1633, “I expect to see SPX 1700 again before 1600, but once that has occurred, I expect to see 1600 before 1800.” I don’t know if SPX 1600 is realistic before 1800, but I believe SPX 1650 will be reached before 1750.
The daily model is bearish today. TOT daily traders come into today’s session 200%. Go an additional 200% short on the first sign of additional weakness, specifically at SPX 1697 stop.
If the SPX advances to 1700 before declining to 1697, raise your entry sell stop to SPX 1698. And for each further 2 point advance, raise your entry sell stop by an equivalent 2 points. If and when you go short, use a protective buy stop on the entire position ten points above the price of the new position.
Thanks for the opportunity to be of service, and I’ll email you again later today.
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.