This is Turov on Timing for Wednesday, January 27, 2010.
The Standard & Poor’s 500 Index (“SPX”) declined 4.61 points yesterday to close at 1092.17. TOT daily traders came into the session 300% long and have held that position overnight and into today. We also had a 2 unit scalping loss intraday. However, the NASDAQ-100 index was UP .17% on the day, and all TIG VA-B, Program B, and Program D accounts were fully invested in the NASDAQ-100 2x fund.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest later this year, leading to a possible end to that decade long perspective at lower prices in 2011 or 2012. But we’re certainly not at that point yet.
The Intermediate Term Model remains neutral.
The daily model is modestly bullish today. TOT daily traders come into today’s session 300% long. Maintain your stop at SPX 1080. 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 a few hours – or sooner if circumstances warrant.
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