This is Turov on Timing for Wednesday, September 6, 2006.
The SPX advanced 2.24 points yesterday to close at 1313.25. TOT daily traders went 400% long at SPX 1305 on Thursday and have held the position into today.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8964.68 cumulative SPX points, compared to a gain of 854.32 points in the index itself over the same period. That’s a ratio of 10.49 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.
Both the long and short term models remain neutral.
The daily model is again bullish today, but the risk component of the model has risen uncomfortably close to an excessive reading. TOT daily traders come into today’s session 400% long. Maintain the position but raise your stop to a rather tight SPX 1310. If the SPX rises to 1319, take your profit. If neither limit nor stop level is reached during the day, then take your profit on the close and go overnight flat, as there is no possibility whatsoever of the daily model being bullish again tomorrow.
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 © 2006 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.