The SPX declined 9.17 points yesterday to close at 1116.21. TOT daily traders went 400% short just after the opening and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8264.25 cumulative SPX points compared to a gain of 657.28 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 term and short term models remain bearish.
The daily model remains bearish today. TOT daily traders come into today’s session 400% short. Lower your stop to SPX 1032.50. If not stopped out, carry your position overnight and into tomorrow. However, please note that if the SPX is able to close up today, the odds are that the daily model will not be bearish again tomorrow – in which case we will tighten the stop very considerably or outright liquidate the position tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances permit.
Turov on Timing is Copyright (c) 2004 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.