This is Turov on Timing for Wednesday, October 3, 2007.
The October monthly issue of Turov on Timing was attached to yesterday’s daily email. If you did not receive it, please let me know and I will re-send it..
The SPX declined 0.41 points yesterday to close at 1546.63. TOT daily traders went 400% long on Monday at SPX 1527.79 and took profits yesterday at SPX 1542.16.
TOT daily traders outperformed the SPX in 10 of the last quarter’s 13 weeks and are well ahead so far this week.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 9883.44 cumulative SPX points, compared to a gain of 1087.70 points in the index itself over the same period. That’s a ratio of 9.09 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. I view the 2002-2007 cyclical bull market as a partial retracement of the 2000-2002 decline (especially as regards NASDAQ, but also, inflation adjusted, as regards the SPX and the DJII). I further believe the cyclical bull market that may have ended in July or is likely to top out soon will end up being to the 2000-2015? bear market as the 1967-1968 cyclical bull market was to the 1966-1974 secular bear market, except that this time around, since the cyclical bull has been longer, I expect the secular bear will be longer also.
The intermediate term model remains bullish.
The daily model is neutral today with neither bulls nor bears having a clear upper hand. Stand aside for the time being.
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 © 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.