This is Turov on Timing for Wednesday December 12, 2007.
The SPX declined 38.31 points yesterday to close at 1477.65 on the heels of a disappointing Fed announcement. TOT daily traders were on the sidelines for the session and therefore required no Prilosec.
TOT daily traders have outperformed the SPX in 17 of the past 23 weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10225.86 cumulative SPX points, compared to a gain of 1018.72 points in the index itself over the same period. That’s a ratio of 10.04 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.
The intermediate term model remains bearish. The market sold off yesterday from an area where further gains are likely to be labored – or non-existent.
The selling was overdone yesterday, and with the daily model being slightly bullish today, we should see a modest rally. TOT daily traders are advised to go 300% long at SPX 1480.50 stop. If you go long, use a protective sell stop at SPX 1474. If the SPX advances to 1490, raise your stop to SPX 1485 and if the SPX gets to 1493, take your profit. If not stopped out, liquidate the position on the close and go overnight flat. If the market does rally today, I don’t expect it to last.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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