This is Turov on Timing for Tuesday September 22, 2009.
A good start to the week as the Standard & Poor’s 500 Index (“SPX”) declined 2.81 points yesterday to close at 1064.66. TOT daily traders went 400% long at SPX 1062 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 11029.54 cumulative SPX points (a corrected figure), compared to a gain of 605.73 points in the index itself over the same period. That’s a ratio of 18.21 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 neutral.
TOT daily traders come into today’s session 400% long. The market will probably lose steam after the first hour or so. For the first 75 minutes of trading, use a sell stop at SPX 1053. At 10:45, if the SPX is above 1055, raise your stop to 2 points below the 10:45 price. And for each subsequent 2 point advance, raise your stop by an equivalent 2 points. If not stopped out, carry your position overnight and into Wednesday unless there is a contradictory advisory between 3:45 and 3:55 p.m.
IMPORTANT NOTE: I’ll be traveling late tonight and unable to transmit Wednesday’s Turov on Timing at the regular time. Wednesday’ Turov on Timing will be sent at 11:00 a.m. Wednesday morning. During the first 90 minutes on Wednesday, if you came into the day long, maintain the same stop strategy as described in the previous paragraph. If you were stopped out on Tuesday, then stand aside until 11:00 Wednesday morning.
Thanks for the opportunity to be of service, and I’ll email you again at 11:00 Wednesday morning.
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.