This is Turov on Timing for Wednesday, December 23, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 3.97 points yesterday to close at 1118.02. TOT daily traders came into the session 300% long and took profits at SPX 1116.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11234.87 cumulative SPX points, compared to a gain of 659.09 points in the index itself over the same period. That’s a ratio of 17.05 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 bullish.
The daily model is modestly bearish today. The market could use a day’s rest before resuming its uptrend. Stand aside today, but go 200% long on the close and carry that position overnight and into Thursday.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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