This is Turov on Timing for Wednesday, November 24, 2010.
The SPX declined 17.11 points yesterday to close at 1180.73. TOT daily traders had a breakeven on a mid-morning scalp attempt.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12053.95 cumulative SPX points, compared to a gain of 721.80 points in the index itself over the same period. That’s a ratio of 16.70 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.
If it were not the day before Thanksgiving, the daily model would be solidly bearish. However, the day before Thanksgiving is so solidly bullish that it moves the overall model to neutral. So we will stand aside for the session, awaiting a better trading opportunity.
And regarding Thanksgiving, in addition to all the usual things I’m thankful for (friends, family, health, etc.), I’m thankful for:
Peace in our homeland and in most of the world
The populace’s increasing awareness of the dangers of global warming (Yes, it’s real!)
Excel and Word
Levitra (What? Too candid?)
The internet’s spreading of free speech throughout the world.
Real time computer charting (Lord, how long it used to take to do by hand – and not as well).
Satellite radio! (You must try it if you haven’t)
Vastly overlooked but always on my list: toilet paper!
The intelligence God gave me and the humility to make me realize it doesn’t make me superior
Restaurants that have “adult only” seating sections (few and far between, unfortunately)
Little babies of my friends that I can visit, but not have to care for.
Books! Yes, books still exist, bound around real paper, that you can read without electronics.
The laughter of little children, the chirping of birds, and the gift of hearing.
Rhinos, warthogs, and other strange looking creatures to remind me of God’s sense of humor
And very much near the top of the list, the respect of my clients and subscribers.
Have a wonderful Thanksgiving, in good health and surrounded be friends and close family! Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Friday’s trading session.
Turov on Timing is Copyright © 2010 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.