This is Turov on Timing for Wednesday, May 18, 2011.
The SPX declined .49 point yesterday to close at 1328.98. 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 12405.29 cumulative SPX points, compared to a gain of 870.05 points in the index itself over the same period. That’s a ratio of 14.26 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 has upticked from bearish to bullish. It is probable that the recent decline has less momentum than originally anticipated. Repeating, the Intermediate Term Model is once again bullish.
The SPX-based daily model is bullish. The NASDAQ model is particularly interesting because if the market fails to advance in the morning, then the afternoon could get VERY nasty.
It became obvious just shortly before the close yesterday that the market would have a strong probability of being up today. I busily got ALL managed accounts positioned maximally long for today, but there wasn’t enough time to get out a late message to TOT subscribers.
TOT daily traders are advised to go 400% long at the market. Use no stop on the position, although I will be watching the market carefully, and if I feel a stop is warranted, I’ll email. In any event, I’ll email you again between 10:45 and 10:55 a.m.
Thanks for the opportunity to be of service, and I’ll update again in just a few hours.
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.