This is Turov on Timing for Wednesday December 19, 2007.
The SPX advanced 9.08 points yesterday to close at 1454.98. TOT daily traders went 300% short on the opening on Thursday and took profits just after the opening yesterday.
TOT daily traders have outperformed the SPX in 18 of the past 24 weeks and are nicely ahead so far this week.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10347.93 cumulative SPX points, compared to a gain of 996.05 points in the index itself over the same period. That’s a ratio of 10.39 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. I think we have begun the second leg down of the 2000-2015? primary bear market.
The daily model is bearish today. TOT daily traders are advised to go 300% short at SPX 1451 stop or at SPX 1458 limit, whichever comes first. If you go short, use a 10 point protective buy stop on the position. If not stopped out, carry your position overnight and into tomorrow.
The SPX is now up only 2.5% for the year and is running the risk of being the first pre-election year since 1943 to decline! I don’t think that will happen – the odds are still better than 50:50 that we’ll have a “Santa Claus rally” – but it is definitely a possibility.
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 © 2007 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.