This is Turov on Timing for Wednesday, September 2, 2009.
The Standard & Poor’s 500 Index (“SPX”) declined 22.58 points yesterday to close at 998.04. TOT daily traders went 300% long at SPX 1017 and closed it out at the exact same price for a breakeven. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11102.46 cumulative SPX points, compared to a gain of 539.11 points in the index itself over the same period. That’s a ratio of 20.59 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.
The daily model is bullish today. TOT daily traders are advised to go 300% long at SPX 1001 stop or at SPX 995 limit, whichever comes first. Once you go long, use a 1% protective sell stop on the position. If not stopped out, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you in 24 hours – or sooner if circumstances warrant.
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