This is a 10:45 a.m. intraday update of Turov on Timing for Tuesday, March 25, 2008.
TOT daily traders came into today’s session 300% long from SPX 1302 and took a cumulative 132 point profit by liquidating the position at SPX 1346.
The selling this morning is EXTREMELY healthy, as well as necessary if this rally is to continue.
The odds of the market advancing versus declining from current levels for the balance of today’s session are about even. However, the potential magnitude of an advance is significantly greater than the potential magnitude of a decline. “Officially”, we will stand aside for the balance of today. “Unofficially,” I am maintaining long positions for managed accounts.
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.
Turov on Timing is Copyright © 2008 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. All caveats and advisories that appear in the monthly Turov on Timing apply equally to this email. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc.