This is a 10:40 intraday update of Turov on Timing for Tuesday, April 26, 2011.
On the heels of several positive earnings reports this morning, the market is strong. TOT daily traders went 300% short at SPX 1338 limit, and have about a 5 point loss at present. I am disinclined to let it run much further. Lower your stop to SPX 1345. If not stopped out, carry the position overnight and into tomorrow, when we will maintain that same stop.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of tomorrow’s session – or sooner if circumstances warrant.
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