This is Turov on Timing for Wednesday, December 30, 2009.
The Standard & Poor’s 500 Index (“SPX”) declined 1.59 points yesterday to close at 1126.19. TOT daily traders went 400% short at SPX 1130 on Monday and covered the position at the same price yesterday.
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 667.26 points in the index itself over the same period. That’s a ratio of 16.84 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.
A very easy message for me today: The daily model is dead neutral. The market has no internal direction and will go in the direction of whatever news might be important. And since there’s no way of knowing news ahead of time, stand aside.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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