This is Turov on Timing for Wednesday, March 19, 2008.
The SPX advanced 54.14 points yesterday to close at 1330.74. While the directional component of the daily model was bullish yesterday, the model’s very high risk component sidelined us.
Over the past 37 weeks, TOT daily traders have outperformed the SPX 23 times and underperformed 14 times. That’s a ratio of 1.64 to 1.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10164.36 cumulative SPX points, compared to a gain of 871.81 points in the index itself over the same period. That’s a ratio of 11.66 to one.
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 intermediate term model remains bullish. Despite late March usually having very negative seasonal tendencies, I expect the SPX to move higher through at least March month-end.
On yesterday’s 11:00 a.m. intraday update I said, “the daily model will most likely be bullish tomorrow,” and indeed it is. TOT daily traders are advised to go 300% long at an envisioned SPX pullback to 1324.50. If you go long, use a 15 point protective sell stop. If still long on the close, carry the 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 © 2008 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.