This is Turov on Timing for Wednesday December 26, 2007.
The SPX advanced 11.99 points Monday to close at 1496.45. TOT daily traders were 300% short for the day and took our loss on the close. We also went 200% long at the same time and carried the new position overnight and into today.
TOT daily traders have outperformed the SPX in 18 of the past 25 weeks but are behind the eight ball so far this week.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10232.58 cumulative SPX points, compared to a gain of 1037.52 points in the index itself over the same period. That’s a ratio of 9.86 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.
I expect the market to move up in the morning and then reverse by late morning. TOT daily traders come into today’s session 200% long. Go an additional 100% long at SPX 1497.65 stop. Use an SPX 1490 protective sell stop on the carryover position, as well as on the new position, if taken. On the upside, if the SPX gets to 1500, raise your stop to SPX 1495, and raise it an additional 5 points for each 5 point advance in the SPX. I’ll update again intra-morning at 10:50 Eastern time.
Thanks for the opportunity to be of service, and I’ll email you again in a few 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.