This is a 10:45 a.m. intraday update of Turov on Timing for Monday, June 15, 2009.
As expected, the market has opened weakly today. On the overnight message I said, “if morning weakness does not reverse itself, then the odds favor a sharper decline as the day progresses.” Well, that decline has occurred, and it has accelerated in the past 15 minutes, putting the market out of ideal shorting range and very close to the SPX 920ish range where some bargain hunting is likely to occur. Continue to stand aside.
Thanks for the opportunity to be of service, and I’ll email you again in about 12 hours.
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