This is Turov on Timing for Wednesday, October 10, 2007.
The SPX advanced 12.57 points yesterday to close at 1565.15. TOT daily traders went 400% long at SPX 1554 and have held the position overnight and into today.
TOT daily traders have outperformed the SPX in 11 of the past 14 weeks and are ahead of the game so far this week.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 9968.76 cumulative SPX points, compared to a gain of 1106.22 points in the index itself over the same period. That’s a ratio of 9.01 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 bullish.
On yesterday’s hotline, I said “there’s the probability of a run to new highs,” and that’s what we did indeed see. The market is currently quite overbought – and it is likely to get even more so.
TOT daily traders come into today’s session 400% long. Raise your stop to SPX 1560. If we rally to SPX 1570, raise your stop to SPX 1565. And if the SPX rallies to 1575, take your profit. If neither limit nor stop is reached, carry your position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in a 24 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2007 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.