Turov and the Trader’s Wire Market Opinion for Thursday, September 14, 2017

Turov and the Trader’s Wire Market Opinion for Thursday, September 14, 2017

by Daniel Turov

This is Turov on Timing for Thursday, September 14, 2017

First, a correction of yesterday’s TOT:  I said the SPX closed Tuesday at 2488.11.  That actually wasMonday’s closing level.  The SPX closed Tuesday at 2496.48.  All calculated numbers were, however, correct.

The SPX advanced 1.89 points yesterday to close at 2498.37.  TOT daily traders went 200% long at SPX 2491.94 on Tuesday, carried the position overnight and into yesterday, and then sold the position on yesterday’s close.

Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 17495.15 cumulative SPX points, compared to a gain of 2039.44 points in the index itself over the same period.  That’s a ratio of 8.58 to one.  (Please note that any day in which the daily trader recommendation fails to outperform the SPX by at least a ratio of +8.58 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.

(The commentary in this paragraph last updated September 13, 2017) The Intermediate Term model has remains neutral.  I expect the market to have a severe selloff sometime relatively soon – but not yet.

The daily model is bearish today.  TOT daily traders are advised to go 300% short at SPX 2498 stop.  If the SPX advances to 2502 before reaching 2498, raise the entry sell stop to 2500, and for each additional 2 point advance, raise the entry sell stop by an equivalent 2 points.  Once short, use a 1% protective buy stop on the position.

The daily model for Friday will be a continuation of today’s direction.  So, if the SPX is down today, as expected, hold the short position overnight and into Friday.  On the other hand, if the SPX is up today, cover the short on the close.

Daniel Turov

In 1994, he was named “Supertrader of Wall Street” by the Stock Trader’s Almanac.

In 2001, he was named “Supertrader of the Millennium” by the Stock Trader’s Almanac.

He’s been a Securities and Exchange Commission Registered Investment Advisor and a member of the National Futures Association and is licensed by the State of California as a Life agent.

Since 1993, he’s authored Turov on Timing, a monthly and daily publication specializing in stock market timing. Turov Investment Group Inc. (as a corporation) and Daniel Turov (as an individual) are California licensed Registered Investment Advisers. Investors from all 50 U.S. states and most foreign nations are welcomed as clients.

Turov on Timing (TOT) is written by Daniel Turov. It is structured as a monthly newsletter plus a daily email service. Each day that I’m physically in the United States (on average, all but about ten business days a year), I email a daily message by midnight Pacific time to subscribers. I also send out special intraday messages when I deem them appropriate. On average, that’s a total of about 400 emails a year.

Each daily email reports on my Daily Model, Intermediate Term Model, and my Long Term Perspective. For a Track Record of the Daily Model recommendations, from September 1993 through February 2017, click here

The cost of the daily email service is only $397 per year (about $1 per email), and email subscribers receive, free of additional charge, the monthly newsletter. The cost of the monthly newsletter alone (i.e., without the daily message) is $95 per year if you want to receive it by email or $195 per year if you want to receive it by US Mail.

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About the author

Daniel Turov

In 1994, he was named “Supertrader of Wall Street” by the Stock Trader’s Almanac. In 2001, he was named “Supertrader of the Millennium” by the Stock Trader’s Almanac. He’s been a Securities and Exchange Commission Registered Investment Advisor and a member of the National Futures Association and is licensed by the State of California as a Life agent. Since 1993, he’s authored Turov on Timing, a monthly and daily publication specializing in stock market timing. Turov Investment Group Inc. (as a corporation) and Daniel Turov (as an individual) are California licensed Registered Investment Advisers. Investors from all 50 U.S. states and most foreign nations are welcomed as clients. Turov on Timing (TOT) is written by Daniel Turov. It is structured as a monthly newsletter plus a daily email service. Each day that I’m physically in the United States (on average, all but about ten business days a year), I email a daily message by midnight Pacific time to subscribers. I also send out special intraday messages when I deem them appropriate. On average, that’s a total of about 400 emails a year. Each daily email reports on my Daily Model, Intermediate Term Model, and my Long Term Perspective. For a Track Record of the Daily Model recommendations, from September 1993 through February 2017, click here The cost of the daily email service is only $397 per year (about $1 per email), and email subscribers receive, free of additional charge, the monthly newsletter. The cost of the monthly newsletter alone (i.e., without the daily message) is $95 per year if you want to receive it by email or $195 per year if you want to receive it by US Mail. Click Here To Subscribe To Turov On Timing