This is Turov on Timing for Wednesday, January 10, 2007.
The SPX declined 0.73 point yesterday to close at 1412.11. TOT daily traders went 200% short at SPX 1415 on Friday and were stopped out at the same level yesterday.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8827.50 cumulative SPX points, compared to a gain of 953.18 points in the index itself over the same period. That’s a ratio of 9.26 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 neutral.
Despite the sloppy session yesterday, the daily model is bullish today. The morning might be soft, a result of the “first five days of January” indicator crapping out, but after some initial selling, the market should move higher.
TOT daily traders are advised to go 300% long at SPX 1407 limit or at SPX 1414 stop, whichever comes first. If you go long, use a 10 point protective sell stop, although if we do get stopped out, we will most likely get back in tomorrow as it is a 100% certainty that the directional component of the daily model will be bullish again tomorrow. That degree of certainty one full day forward is very unusual and has tended to be rather accurate in the past.
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.