A very good day for the home team, as the SPX advanced 32.63 points yesterday to close at 847.91. TOT long term investors and short term traders went long on the opening, and TOT daily traders covered their short at SPX 821 and went 200% long at SPX 828. All three groups have carried their positions overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 7186.40 cumulative SPX points compared to a gain of 388.98 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish. Despite the short and long term models having turned bullish on September 30’s close, the primary bear market is not over. Indeed, it has a LOT further to go.
However, both the long and short term models remain bullish.
The daily model is bullish again today. TOT daily traders come into the session 200% long. Go an additional 200% long at the market. Use a protective sell stop on the new position at SPX 837, and raise your stop on the existing position to SPX 827. On the upside, if we get to SPX 876.50, take your profit. If still long on the close, carry your position overnight and into tomorrow.
Thanks for the opportunity to be of service to you, and I’ll email you again in a few hours.
Turov on Timing is Copyright (c) 2002 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the publisher.