This is Turov on Timing for Wednesday, October 7, 2009.
Another very good day for the home team as the Standard & Poor’s 500 Index (“SPX”) advanced 14.26 points yesterday to close at 1054.72. TOT daily traders went 300% long at SPX 1026.87 on Monday and took profits yesterday at SPX 1055. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11137.71 cumulative SPX points, compared to a gain of 595.79 points in the index itself over the same period. That’s a ratio of 18.69 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2010 or 2011. But we’re certainly not at that point yet.
The Intermediate Term Model remains bullish.
We will likely see some profit taking in the early going today, followed by another rally attempt later in the day. TOT daily traders are advised to go 200% short at SPX 1054 stop. If you go short, use a protective buy stop at SPX 1066. I’ll have an intraday update between 10:45 and 11:00 a.m.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
Turov on Timing is Copyright © 2009 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.