This is Turov on Timing for Veterans’ Day, Thursday, November 11, 2010.
The SPX advanced 5.31 points yesterday to close at 1218.71. TOT daily traders went 300% long near the low of the session at SPX 1208.10 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 12009.00 cumulative SPX points, compared to a gain of 759.78 points in the index itself over the same period. That’s a ratio of 15.81 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then). When the current cyclical bull market ends, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bullish.
The news-neutral daily model is bullish today. Unfortunately, there is substantial news overnight, and it came in the earnings forecast from Cisco. The Cisco news drove that stock down 12% in after hours trading, and that dragged down most technology issues. As I write this, NASDAQ futures are implying an opening for the NASDAQ 100 about 1.5% lower, and S&P futures are implying an opening for the SPX about 0.5% lower. It will be CRITICAL to see if the market can bounce back QUICKLY.
I will update again at 9:15, 15 minutes before the opening.
Thanks for the opportunity to be of service, and I’ll email you again at 9:15.
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