This is Turov on Timing for Wednesday, November 10, 2010.
The SPX declined 9.85 points yesterday to close at 1213.40. TOT daily traders took a 1% loss on 2 units. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11977.17 cumulative SPX points, compared to a gain of 754.47 points in the index itself over the same period. That’s a ratio of 15.87 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.
As indicated on my 3:50 intraday update yesterday, I expect to see continued selling this morning. However, I expect to see that selling exhaust itself within the first 90 minutes of trading and for the market to end the day in positive territory. I’ll be looking for an entry point, and if I see it prior to 10:45, I’ll email you then. If no email by 10:45, then TOT daily traders are advised to go 300% long at the market at 10:45. Once long, use a 1% protective sell stop on the position.
Thanks for the opportunity to be of service, and I’ll email you again either before 10:45 or at 3:50.
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