The SPX declined 4.21 points yesterday to close at 1283.03. TOT daily traders went 200% short at SPX 1289.60 and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8599.55 cumulative SPX points, compared to a gain of 824.10 points in the index itself over the same period.
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.
Both the long and short term models remain neutral.
I’d love to be able to say that yesterday was the beginning of a meltdown, but the data does not lead in that direction. The daily model is mixed today, with an indication of a bit more selling in the early going, followed by an upside reversal later in the day.
TOT daily traders come into today’s session 200% short from SPX 1289.60. Lower your stop to SPX 1286. If the SPX declines to 1280, lower your stop to SPX 1283, and for each additional 3 point decline, lower your stop by an equivalent 3 points. If we are stopped out, I’ll have an intraday update within 30 minutes with a POSSIBLE long recommendation. If not stopped out, carry your position overnight and into Thursday.
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 (c) 2006 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.