The SPX declined 1.64 point yesterday to close at 878.29, reversing Monday’s modest advance. TOT daily traders went 100% long on the opening Monday and another 100% long on Tuesday’s opening, and have held the positions overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 7494.08 cumulative SPX points compared to a gain of 419.36 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish.
The long term model remains neutral, and the short term model remains bullish.
I’m disappointed to say that the daily model is bearish today. With the unknown potential for news from Iraq, and with the short term model still bullish, I’d be uncomfortable going short today, but it is appropriate to liquidate the long position. TOT daily traders are advised to do so on the opening, and move to the sidelines.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances warrant.
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