This is a 10:35 a.m. intraday update Turov on Timing for Wednesday, August 9, 2006.
“Technically”, we have already entered and exited the trade from today’s regular message and are flat. I will have a LENGTHY discussion of it on Thursday’s regular message.
For the nonce, the SPX has retreated about 5 points from this morning’s high and is starting to look attractive again. TOT daily traders are advised to go 300% (not 400%) long at SPX 1279.50 stop or at SPX 1276.50 limit, whichever comes first. If you go long, use a 5 point protective sell stop. If you go long and are not stopped out, carry your position overnight and into tomorrow, where we will most likely maintain the same stop.
Thanks for the opportunity to be of service, and I’ll email you at the regular time – or sooner if circumstances warrant.
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