This is Turov on Timing for Wednesday, December 1, 2010.
The SPX declined 7.21 points yesterday to close at 1180.55. TOT daily traders went 300% long at SPX 1179.02 on Monday and sold the position yesterday at the same price. We also went 200% short at SPX 1181.79 and took a small profit on that on the close. Finally, we went 300% long again on the close 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 12058.43 cumulative SPX points, compared to a gain of 721.62 points in the index itself over the same period. That’s a ratio of 16.71 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. Expect to see the mid to lower 1100’s by mid December. That decline should begin later this week.
TOT daily traders come into today’s session 300% long. Use a stop on the position at SPX 1172.
Thanks for the opportunity to be of service, and I’ll email you again at 10:50 a.m. – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2010 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.