This is Turov on Timing for Wednesday, June 2, 2010.
The Standard & Poor’s 500 Index (“SPX”) declined 18.70 points yesterday to close at 1070.71. TOT daily traders went 200% long on Friday’s SPX 1089.41 close and took a miniscule profit yesterday at SPX 1089.55. I’ll take miniscule profits over 18.7 point losses any day! We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11879.58 cumulative SPX points, compared to a gain of 611.78 points in the index itself over the same period. That’s a ratio of 19.42 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then) but the current cyclical bull market probably has further to go before topping out.
The Intermediate Term Model remains bullish. However, it’s not a strong signal, and it could reverse as early as tomorrow or Friday.
The daily model is solidly bullish today. TOT daily traders are advised to go 400% long at SPX 1072 stop or at SPX 1068 limit, whichever comes first. Once you go long, use a 1% protective sell stop on the position.
Thanks for the opportunity to be of service, and I’ll email you again at 3:55 this afternoon – or sooner if circumstances warrant.
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