This is Turov on Timing for Wednesday, May 4, 2011.
The SPX declined 4.60 points yesterday to close at 1356.62. TOT daily traders went 300% long at SPX 1356.78 and sold out at virtually the same price, SPX 1356.62. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12407.82 cumulative SPX points, compared to a gain of 897.69 points in the index itself over the same period. That’s a ratio of 13.82 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 bullish.
The daily model is modestly bullish today. TOT daily traders are advised to go 200% long at SPX 1358 stop or at SPX 1354 limit, whichever occurs first. Once you are long, use a 3/4% protective sell stop on the position. On the upside, if you have a 3/4% profit, take it. If still long as we approach the close, sell then and go overnight flat again.
Thanks for the opportunity to be of service, and I’ll update six hours before the start of tomorrow’s session – or sooner if circumstances warrant.
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.