The SPX declined 1.23 points yesterday to close at 1852.21. TOT daily traders went 300% long at SPX 1856 and have held that position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 16123.53 cumulative SPX points, compared to a gain of 1393.28 points in the index itself over the same period. That’s a ratio of 11.57 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +11.57 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated November 5, 2015) The super long term perspective (i.e., it’s a prediction, not a forecast!) for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I expect that our new 2016-elected President will have some very serious problems during his/her single term in office.
(The commentary in this paragraph last updated February 5, 2016.) The Intermediate Term Model remains bearish. As I said in this report on the night of February 1, in all probability, this bear market rally has run its course.
Yesterday, well folks, I blew it. We had an opportunity to go long at a lower price than we did, and I simply did not take advantage of it. Mea culpa.
But today is a new day.
I expect to see higher prices in the early going, but after that it gets dicey. And that “higher prices” projection may be somewhat tough to achieve considering Senator Sanders extremely strong showing in New Hampshire yesterday. Until further notice, use an SPX 1838 sell stop on the position. If the SPX is up on the day at 10:45, sell your long position. On the other hand, if the SPX is down on the day at 10:45, continue to hold the position but maintain the stop.
Thanks for the opportunity to be of service, and I’ll update again later today.
Turov on Timing is Copyright © 2016 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 including the fact that past performance is not a guarantee of future performance. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.