This is Turov on Timing for Wednesday, June 28, 2006
The SPX declined 11.36 points yesterday to close at 1239.20. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8855.96 cumulative SPX points, compared to a gain of 780.27 points in the index itself over the same period.
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.
Both the long and short term models remain bearish.
Despite the solidly bearish reading of the short term model, the daily model is bullish today. Indeed, even during primary bear markets, the market advances about 45% of the time.
TOT daily traders are advised to go 400% long on a 1.5 point scale up buy stop, beginning at SPX 1240.50. So that’s 1240.50, 1242, 1243.50 and 1245. If you go long, use a 10 point protective sell stop on each unit, calculated separately. On the upside, take profits on each unit if it advances 10 points from where you went long, also calculated separately. So, we’re risking 10 points per unit to make 10 points per unit – but the odds of a 10 point advance are considerably greater than the odds of a 10 point decline. If still long as we approach the close, carry your position overnight and into tomorrow.
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 (c) 2006 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.