This is Turov on Timing for Wednesday, May 7, 2008.
THE MAY MONTHLY ISSUE OF TUROV ON TIMING IS ATTACHED TO THIS EMAIL.
The SPX advanced 10.77 points yesterday to close at 1418.26. TOT daily traders went 300% long at SPX 1410.24 on Monday, and we closed out the position yesterday morning at SPX 1403.06. Not the best decision I ever made….
Over the past 44 weeks, TOT daily traders have outperformed the SPX 29 times and underperformed 15 times. That’s a ratio of 1.93 to 1.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10462.48 cumulative SPX points, compared to a gain of 959.33 points in the index itself over the same period. That’s a ratio of 10.91 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 bearish. Expect to see a serious slide begin tomorrow, Thursday.
Today, however, looks promising for the bulls. TOT daily traders are advised to go 400% long at SPX 1421 stop or at SPX 1414 limit, or at the market at 10:00, whichever of those three events occur first. Once you go long, use a 1% sell stop on the position. I will have an intraday update between 10:45 and 11:00 a.m.
Thanks for the opportunity to be of service, and I’ll email you again in a few 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.