This is Turov on Timing for Wednesday, December 2, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 13.23 points yesterday to close at 1108.86. TOT daily traders had a small scalping profit in the morning and then moved to the sidelines.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11210.07 cumulative SPX points, compared to a gain of 649.93 points in the index itself over the same period. That’s a ratio of 17.25 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 remains bearish.
The daily model is bearish today. TOT daily traders are advised to go 300% short at SPX 1107 stop. Use a 10 point protective buy stop on the position, once taken.
Thanks for the opportunity to be of service, and I’ll email you again between 10:45 and 11:00 a.m.
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