This is Turov on Timing for Wednesday, February 13, 2008.
The SPX advanced 9.73 points yesterday to close at 1348.86. TOT daily traders took a 9 point scalping loss on 2 units.
TOT daily traders have outperformed the SPX in 20 of the past 32 weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 9955.59 cumulative SPX points, compared to a gain of 889.93 points in the index itself over the same period. That’s a ratio of 11.19 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 bullish.
The probability is that the market will advance today. However, the market remains extremely susceptible to serious weakness if there’s bad news. It doesn’t need good news to advance today; just no new bad news. This type of situation is not uncommon during a rally phase of a primary bear market – and that’s how I see the current state of affairs.
TOT daily traders are advised to go 300% long into strength only at SPX 1351 stop. If you go long, use a fairly tight 10 point sell stop – tight in an environment of high volatility, that is. If not stopped out, carry your position overnight and into tomorrow.
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 © 2008 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.