This is Turov on Timing for Wednesday, June 7, 2006.
The SPX declined 1.44 points yesterday to close at 1263.85. TOT daily traders took a little larger scalping loss than I would have liked yesterday but, in perspective, it was our first daily loss since May 19. We are currently on the sidelines.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8874.92 cumulative SPX points, compared to a gain of 804.92 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.
The long term model remains neutral, and the short term model remains bullish.
My intestines tell me the market is going lower. My brain tells me it is going higher. They both can’t be right!
The daily model is neutral today, both because of high volatility risk and because of high uncertainty. Stand aside.
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.