This is Turov on Timing for Wednesday, August 23, 2006.
The SPX advanced a miniscule 1.30 point yesterday to close at 1298.82. TOT daily traders went fishing and missed… well, absolutely nothing.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8962.04 cumulative SPX points, compared to a gain of 839.89 points in the index itself over the same period. That’s a ratio of 10.67 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. However, the short term model is improving within the neutral range, and there is a chance of it moving up a notch – but not just yet. Late August, in recent history, has been very weak, and that is holding the model back.
The daily model is slightly bullish today. TOT daily traders are advised to go 200% long into strength only, at SPX 1303 stop. If you go long, use a protective sell stop at SPX 1294. If you go long and are not stopped out AND the SPX is closing up on the day, carry your position overnight and into tomorrow. However, if you go long and are not stopped out AND the SPX is closing down on the day, then liquidate your position on the close and go overnight flat.
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.