The SPX declined 18.7 points yesterday to close at 2457.85. TOT daily traders were on the sidelines for the session.
ADVERTISEMENT: All Turov Investment Group managed accounts were 100% invested in the Energy Sector Fund yesterday, and Turov on Overnight Possibilities subscribers were advised to go long the Energy Sector Fund on Friday’s close. Both groups enjoyed profits yesterday as the Energy Sector Fund gained .55% on the day, compared with a nasty loss in the major stock averages.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 17489.63 cumulative SPX points, compared to a gain of 1998.92 points in the index itself over the same period. That’s a ratio of 8.75 to one. (Please note that any day in which the daily trader recommendation fails to outperform the SPX by at least a ratio of +8.75 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated August 1, 2017) The super long term perspective (a prediction, not a forecast!) for the stock market remains bearish (within the context of a medium term bull market). I believe that, adjusted for REAL inflation (not the funny numbers the Social Security Administration uses) the stock market may be lower in real dollars in 2020 than it was in 2000, although higher in nominal dollars. For a long time, I’ve been saying, “I also expect that our new 2016-elected President will have some very serious problems during his/her single term in office.” That belief stands, and we see it happening already.
Intermediate Term model: (The commentary in this paragraph last updated September 6, 2017.) On August 1, with the SPX at 2470.30, I forecast that the market would be soft over the subsequent month, and it has been, trading in a range of 2480 to 2417, and closing yesterday at 2457. As long as the SPX closes below 2485, the Intermediate Term model must be considered bearish.
The daily model is slightly bullish today, and in the absence of news, the market is likely to struggle back a bit. TOT daily traders are advised to go 100% long at 2458 limit or lower. If you go long, use a 1% protective stop on the position.
Thanks for the opportunity to be of service, and I’ll email you again prior to the beginning of Thursday’s trading session.
Turov on Timing is Copyright © 2017 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 including the fact that past performance is not a guarantee of future performance. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.