This is a 10:45 a.m. intraday update of Turov on Timing for Monday, March 17, 2008.
While the odds favored a rally from the open – as I clearly indicated on the regular overnight report – we’ve had that rally, and the odds now favor a further decline from the SPX’s current level of about 1281. TOT daily traders are advised to go 400% short at SPX 1279 stop. If you go short, use a 15 point protective buy stop on the position.
I will have another intraday update later today.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
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