This is Turov on Timing for Wednesday, January 17, 2007.
In one of the most lackluster sessions in memory, the SPX advanced 1.17 points yesterday to close at 1431.90. TOT daily traders went 400% long at SPX 1431.50 and have held the position overnight and into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8883.10 cumulative SPX points, compared to a gain of 972.97 points in the index itself over the same period. That’s a ratio of 9.13 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.
Because risk is high, we played yesterday’s trade close to the vest, putting our sell stop just underneath the prior day’s close. With the daily model merely neutral today, we will do the same. TOT daily traders come into today’s session 400% long. Raise your protective sell stop from SPX 1424.50 to SPX 1428.50. If not stopped out, carry the position overnight and into tomorrow.
The market “feels” to me like it wants to go down, but the indicators are contradicting my “feel”. So we will follow the indicators… but cautiously.
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