Another good day for the home team as the SPX advanced 8.14 points yesterday to close at 1189.41. TOT daily traders came into the session 400% long from SPX 1165.31 and have held the position overnight again and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8467.95 cumulative SPX points compared to a gain of 730.48 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish, and it’s unlikely anything will change that for several years.
Both the long and short term models remain bullish, although the short term is getting a bit tired.
While the daily model is again bullish today, the rally is getting a bit long in the tooth, and we will take our profit today. TOT daily traders come into today’s session 400% long. Maintain your position but raise your stop to SPX 1178. If the SPX gets to 1194, start taking profits on a 1 point scale up; i.e. 1 unit (of your 4 unit position) at SPX 1194, another at 1195, another at 1196, and the last at 1197. Furthermore, if SPX 1194 is reached, raise the stop on any remaining position to SPX 1184. If still long as we approach the close, liquidate any remaining position at the market on the 4pm close.
Furthermore, if BOTH the SPX AND the NYSE advance/decline ratio is negative on the close, go 200% short at the market on the 4pm close and carry that position overnight. If both conditions are not met, then 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.
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