This is Turov on Timing for Wednesday, May 11, 2011.
A “clerical” item first: I will be traveling today, tomorrow and Friday. I do expect to have internet access, but it I don’t and can’t transmit TOT, “don’t worry.” Also, Thursday and Friday’s TOTs will be transmitted shortly before the market opening on those days, rather than at the usual overnight time.
The SPX advanced 6.09 points yesterday to close at 1357.16. TOT daily traders were on the sidelines for the session. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12387.52 cumulative SPX points, compared to a gain of 898.23 points in the index itself over the same period. That’s a ratio of 13.79 to one.
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). When the current cyclical bull market ends, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bearish.
The daily model is slightly bullish today. My NASDAQ model is neutral to slightly bearish in the early going, but, regardless of the early going, is quite bullish for the 10:45 to the close period. It is likely that if the NASDAQ is strong during that period, the SPX will be strong also.
TOT daily traders are therefore advised to go 300% long at the market at 10:45 a.m. Once long, use a 1% protective sell stop on the position. If not stopped out, sell the position on the close and go overnight flat.
Thanks for the opportunity to be of service, and I’ll update again about ½ hour before the start of Thursday’s regular trading session.
Turov on Timing is Copyright © 2011 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.