This is Turov on Timing for Wednesday, December 5, 2007.
The SPX declined 9.63 points yesterday to close at 1462.79. TOT daily traders went 400% long at SPX 1478 on Monday and were stopped out at SPX 1468 yesterday. Ouch.
TOT daily traders have outperformed the SPX in 17 of the past 22 weeks but are behind so far this week.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10207.86 cumulative SPX points, compared to a gain of 1003.96 points in the index itself over the same period. That’s a ratio of 10.17 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. The direction of least resistance remains up, but the potential magnitude of any major move is down.
The daily model is again slightly bullish today. TOT daily traders were stopped out yesterday at SPX 1468 and are advised to go back into the same position at the same SPX 1468 stop. If you go long, use a rather tight 5 point stop on your position. If the SPX rallies to 1475, raise your stop to SPX 1470, and for each additional 5 point advance, raise your stop by an equivalent 5 points. If not stopped out, liquidate your position on the close and go overnight flat.
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.