This is Turov on Timing for Wednesday, August 17, 2011.
The SPX declined 11.73 points yesterday to close at 1192.76. TOT daily traders went 200% short on the close at SPX 1204.49 on Monday and another 200% yesterday morning, and we took profits on the position yesterday.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12497.14 cumulative SPX points, compared to a gain of 733.83 points in the index itself over the same period. That’s a ratio of 17.03 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 bearish.
The daily model is neutral today. The market will rise or fall with the news, as it has no significant internal bullish or bearish bias.
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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