This is Turov on Timing for Tuesday, September 8, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 13.16 points Friday to close at 1016.40. TOT daily traders took a 9.90 point scalping profit and are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11116.59 cumulative SPX points, compared to a gain of 557.47 points in the index itself over the same period. That’s a ratio of 19.94 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.
As I write this, S&P futures are up to about 5 points above fair value. I expect that premium to dissipate either before the market opens or shortly afterwards. Look for a modest selloff in the early going today. However, if it does play out that way, expect the market to rebound in the late going.
TOT daily traders are advised to go 400% short at SPX 1015 stop or at SPX 1019 limit, or at the market at 9:45, whichever comes first. Use a 10 point protective buy stop on the position until 10:45 a.m. at which time the position should be covered at the market!
Thanks for the opportunity to be of service, and I’ll email you again between 10:35 and 10:55 a.m. with an advisory for the balance of the day.
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.