This is Turov on Timing for Wednesday, November 8, 2006.
The SPX advanced 3.06 points yesterday to close at 1382.84. TOT daily traders were on the sidelines yesterday, licking our wounds from Monday.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8874.16 cumulative SPX points, compared to a gain of 923.91 points in the index itself over the same period. That’s a ratio of 9.61 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.
Both the long and short term models remain neutral.
The news-neutral daily model is solidly bullish today, although the early going might be volatile because of the impact of the election news. Yet, over the years, ignoring the news has proven to be MUCH more profitable than trying to figure out what the future implications of the news might be.
TOT daily traders are advised to go 400% long at SPX 1384.15 buy stop or at SPX 1379.60 limit, or at the market at 9:45 a.m. Eastern time, whichever of those three events comes first. After you go long, use a protective sell stop at SPX 1371, although I may raise that intraday if circumstances warrant. If not stopped out and if I issue no intraday message, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2006 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.