This is Turov on Timing for Tuesday, September 5, 2006.
THE SEPTEMBER MONTHLY ISSUE OF TUROV ON TIMING IS ATTACHED.
The SPX advanced 7.19 points Friday to close at 1311.01. TOT daily traders went 400% long at SPX 1305 on Thursday and have held the position into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8955.72 cumulative SPX points, compared to a gain of 852.08 points in the index itself over the same period. That’s a ratio of 10.51 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.
Both the long and short term models remain neutral.
The daily model is again bullish today. TOT daily traders come into today’s session 400% long. Maintain the position and your stop at SPX 1305. If the SPX rises to 1315, raise your stop to SPX 1310, and for each additional 5 point advance, raise your stop by an equivalent 5 points. If not stopped out AND if the SPX is closing up on the day, carry your position overnight and into tomorrow. Otherwise liquidate your position on the close and go overnight flat.
The market is acting very much as it did in late 1999, moving higher with increasingly more negative divergences. If you recall Year 2000, I think that that statement speaks for itself!
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 © 2006 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.