This is Turov on Timing for Wednesday, August 9, 2006.
The SPX declined 4.29 points yesterday to close at 1271.48. TOT daily traders went 200% long at SPX 1277 and were stopped out at SPX 1275 for a small loss.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8967.04 cumulative SPX points, compared to a gain of 812.55 points in the index itself over the same period. That’s a ratio of 11.04 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.
Despite the rotten response to the Fed news yesterday, the daily model is solidly bullish today. TOT daily traders are advised to go 400% long at the market. As always, we will use the opening price reported by www.bigcharts.com as our “official” price. Once you go long, liquidate the position either on a limit 10 points higher than your entry level or on a stop 10 points lower than your entry level. While we are risking 40 cumulative points to make 40 cumulative points (both rather large numbers by our normal parameters), the odds significantly favor the advance. If neither level is reached, liquidate your position on the close and go overnight flat.
Thanks for the opportunity to be of service, and I’ll email you 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.