This is Turov on Timing for Wednesday, December 16, 2009.
The Standard & Poor’s 500 Index (“SPX”) declined 6.18 points yesterday to close at 1107.93. TOT daily traders went 300% short at SPX 1114 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 11206.22 cumulative SPX points, compared to a gain of 649.00 points in the index itself over the same period. That’s a ratio of 17.27 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2011 or 2012. But we’re certainly not at that point yet.
The Intermediate Term Model has upticked from bearish to bullish. Repeating, THE INTERMEDIATE TERM MODEL IS NOW BULLISH.
First, my apologies: I had said to expect an intraday update at 3:50, and it simply slipped my mind. Sorry.
TOT daily traders went 300% short at SPX 1114 yesterday and have carried the position overnight and into today. In light of the uptick in the Intermediate Term model and a bullish directional signal on the daily model reading today (but the risk component of the daily model is too high to warrant going long), TOT daily traders are advised to cover the short position on the opening and move to the sidelines (temporarily).
Depending on how the market trades in the early going, the NASDAQ model is almost certain to generate a strong signal (it could be either bullish or bearish) at 10:45. I will therefore, email you again no later that 10:55 (and I promise not to forget!).
Thanks for the opportunity to be of service, and I’ll email you again shortly.
Turov on Timing is Copyright © 2009 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.