The SPX advanced 24.15 points Friday to close at 1263.85, virtually all of it on a gap opening.  TOT daily traders had a breakeven on a small trade.  We are currently flat.

Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12743.89 cumulative SPX points, compared to a gain of 804.92 points in the index itself over the same period.  That’s a ratio of 15.83 to one.

The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then).  When the current cyclical bull market ends (and at present, it is quite possible that it has already ended, the major doubt factors being the upcoming presidential election, the European debt crisis, and the Congressional budget battles), expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000. 

The Intermediate Term Model remains bullish. 

The daily model is also bullish today, and the gains of this past Thursday and Friday are likely to continue today.  TOT daily traders are advised to go 300% long at SPX 1264 stop.  If the SPX declines to 1260 before reaching 1264, lower your entry level buy stop to SPX 1262.  And for each additional 2 point decline, lower your entry level buy stop by an equivalent 2 points.  Once long, use a 1% protective sell stop on the position.  If still long as we approach the close, sell the position on the close and go overnight flat.  Preliminarily, it is unlikely that this rally has the ability to continue to advance without taking a rest on Tuesday.

Thanks for the opportunity to be of service, and I will update again six hours before the start of Tuesday’s trading session – or sooner if circumstances warrant.

Turov on Timing is Copyright © 2011 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.  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 stop 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.

TOT daily traders went 200% short at SPX 1265 this morning.  The SPX is currently just fractionally below there.  Lower your buy stop to an SPX 1265 breakeven.  If not stopped out, cover the position on the close and go into the weekend flat.

Have a great weekend, thanks for the opportunity to be of service, and I will update again six hours before the start of Monday’s trading session.

Turov on Timing is Copyright © 2011 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.  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 stop 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.

The SPX is currently about 1266 and it looks toppy.  TOT daily traders are advised to go 200% short at SPX 1265 stop.  If you go short, use a tight 6 point protective buy stop on the position.  On the downside, if the SPX declines to 1260, lower your stop to SPX 1267.

Thanks for the opportunity to be of service, and I will update again sometime during the trading session.

Turov on Timing is Copyright © 2011 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.  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 stop 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.

The SPX advanced 10.60 points yesterday to close at 1239.70.  TOT daily traders went 200% long shortly after the opening and sold the position at SPX 1240.

Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12743.89 cumulative SPX points, compared to a gain of 780.77 points in the index itself over the same period.  That’s a ratio of 16.32 to one.

The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then).  When the current cyclical bull market ends (and at present, it is quite possible that it has already ended, the major doubt factors being the upcoming presidential election, the European debt crisis, and the Congressional budget battles), expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000. 

The Intermediate Term Model remains bullish. 

While I’m pleased the market advanced, as forecast, its inability to close higher than the day’s opening prices of futures and its ETF (SPY) is a clear-cut negative.

Today, we’re likely to see some strength in the early going, followed by a fade as time goes on.  Stand aside for now, and if I see a good shorting opportunity, I’ll let you know.

Thanks for the opportunity to be of service, and I will update again sometime during the trading session.

Turov on Timing is Copyright © 2011 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.  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 stop 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.

The SPX declined 46.82 points yesterday to close at 1229.10.  TOT daily traders were on the sidelines for the session and missed the carnage.

Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12728.89 cumulative SPX points, compared to a gain of 770.17 points in the index itself over the same period.  That’s a ratio of 16.53 to one.

The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then).  When the current cyclical bull market ends (and at present, it is quite possible that it has already ended, the major doubt factors being the upcoming presidential election, the European debt crisis, and the Congressional budget battles), expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000. 

The Intermediate Term Model remains bullish. 

The news-neutral daily model is only slightly bullish today, but since the news of Europe won’t be neutral and the model is less bullish than I would have expected, we will take only a modest position and only into strength.  TOT daily traders are advised to go 200% long at SPX 1232 stop.  If the SPX declines to 1228 before reaching 1232, lower your entry buy stop to SPX 1230.  And for each additional 2 point decline, lower your entry buy stop by an equivalent 2 points.  If and when you go long, use a 1% protective sell stop on the position.

Thanks for the opportunity to be of service, and I will update again sometime during the trading session.

Turov on Timing is Copyright © 2011 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.  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 stop 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.

It can be argued that the real story today is not Greece or Italy or Iran-Israel but rather, Apple (AAPL).  As I write this, AAPL is down about a dozen points.  As reported by Marketwatch, “Richard Gardner of Citi attributed the drop to media reports about production cuts on the company’s popular iPhone and iPad products. He said Apple appears to be experiencing “constraints” on flexible circuit boards that are made in Thailand, which has seen its high-tech industry ravaged by extensive flooding.”

In turn, AAPL has pulled the NASDAQ 100 lower, which has held back the SPX.  On the other hand, the Dow Industrials, which unlike the NASDAQ and SPX indices, does not contain AAPL, is doing considerably better.

The SPX is currently about 1239.  TOT daily traders, who are currently 200% long, are advised to raise their stop to SPX 1232.50.  If the SPX advances to 1245, raise the stop again to 1240, and from there, for each additional 2 point advance, raise the stop an equivalent 2 points.  If not stopped out prior to the close, sell the position on the close and go overnight flat.

Thanks for the opportunity to be of service, and I will update again in about 12 hours – or sooner if circumstances warrant.

Turov on Timing is Copyright © 2011 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.  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 stop 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.

While Richard Arms developed the Short Term Trading Index (TRIN) as a way of measuring intraday buying and selling pressure, I first used it as a 10 day moving average indicator, and it was the primary indicator I used for my December 9, 1974 article in BARRON’S, “Buy Signal,” with the Dow Jones at 575.  (The intraday low on December 9 of 571 was the bear market low.) So I am intimately acquainted with this indicator.

For a variety of reasons, including my having publicized it!, it no longer has the predictive abilities it used to, either on a daily basis or on a 10 day moving average basis.  However, it still is a good indicator of “extreme extremes” – and today was one.

The closing TRIN level today on the New York Stock Exchange, as reported by Trade Station Securities, was 8.53.  As a comparison, 1.0 is the norm, by definition.  According to my records, 8.53 is the highest reading in history.

In fact, over the past half century, there have been only four other times when the TRIN closed over 6.0.  In all four cases, the market rebounded smartly the following day:

On the day after October 19, 1987, the SPX advanced 5.3%
On the day after October 26, 1987, the SPX advanced 2.4%
On the day after October 27, 1997, the SPX advanced 5.1%
On the day after February 27, 2007, the SPX advanced 0.5%

The daily model has not yet been computed, but it almost certainly will be bullish for tomorrow.  My purpose in sending you this message now is for those who might want to take a futures position on the overnight session in expectation of an advance tomorrow.  PLEASE NOTE THAT THAT IS NOT A RECOMMENDATION AS FOR REGULATORY REASONS, TUROV ON TIMING MAKES RECOMMENDATIONS BASED ONLY ON THE S&P CASH INDEX!

Thanks for the opportunity to be of service, and I will update again six hours before the start of Thursday’s trading session.

Turov on Timing is Copyright © 2011 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.  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 stop 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.

The SPX advanced 14.8 points yesterday to close at 1275.92.  TOT daily traders went 300% short at SPX 1269 and took profits at SPX 1264.  We are currently flat.

Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12728.89 cumulative SPX points, compared to a gain of 816.99 points in the index itself over the same period.  That’s a ratio of 15.58 to one.

The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then).  When the current cyclical bull market ends (and at present, it is quite possible that it has already ended, the major doubt factors being the upcoming presidential election, the European debt crisis, and the Congressional budget battles), expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000. 

The Intermediate Term Model remains bullish. 

The news-neutral daily model is slightly bearish today, but the news out of Italy has intensified bearish pressure on futures.   Those futures are now down sharply, and shorting into that degree of weakness would simply be gambling – something I don’t do without solid odds in my favor (which we don’t have).  We will stand aside and see how the vicissitudes of the news play out.

Thanks for the opportunity to be of service, and I will update again six hours before the start of Thursday’s trading session – or sooner if circumstances warrant.

Turov on Timing is Copyright © 2011 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.  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 stop 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.

TOT daily traders went 300% short at SPX 1269 earlier this morning.  The SPX is currently about 1263.

I don’t like the feel of the market from a short perspective.

TOT daily traders are advised to take your profit at SPX 1264 stop or at SPX 1257 limit, whichever comes first.  

Thanks for the opportunity to be of service, and I will update again sometime during the trading session.

Turov on Timing is Copyright © 2011 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.  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 stop 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.

In a session which first saw the market swoon, the SPX advanced 7.89 points yesterday to close at 1261.12, completely reversing Friday’s decline of virtually the same amount.  TOT daily traders were on the sidelines for the session.  We are currently flat.

Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12713.89 cumulative SPX points, compared to a gain of 802.19 points in the index itself over the same period.  That’s a ratio of 15.85 to one.

The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then).  When the current cyclical bull market ends (and at present, it is quite possible that it has already ended, the major doubt factors being the upcoming presidential election, the European debt crisis, and the Congressional budget battles), expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000. 

The Intermediate Term Model remains bullish. 

The daily model is bearish today.  I want to go short on the first sign of weakness.

TOT daily traders are advised to go 300% short at SPX 1261 stop.  If the SPX advances to 1265 before declining to 1261, raise your entry short stop to SPX 1263.  And for each additional 2 point advance, raise your entry short stop by an equivalent 2 points.  Once short, use a 1% protective buy stop.

Thanks for the opportunity to be of service, and I will update again sometime during the trading session.

Turov on Timing is Copyright © 2011 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.  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 stop 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.