This is a 10:45 a.m. intraday update of Turov on Timing for Wednesday, October 24, 2007.
On the regular overnight hotline, I said, “The daily model is neutral today. However, if the market can overcome the overnight weakness caused by Amazon’s after the close earnings and rally into mid-morning, it will create an excellent re-shorting opportunity.” That has not occurred, and I do not wish to short into weakness. Continue to stand aside today.
Communication note: I have no idea whether the following is related to the fires or not, but my internet connection has been intermittent this morning. So, FOR THE BALANCE OF THE FIRE EMERGENCY, IF YOU DO NOT RECEIVE ANY PROMISED EMAIL, MAINTAIN ANY EXTANT RECOMMENDATION UNTIL YOU DO RECEIVE AN UPDATE. During this time, any recommendations I make will include as many contingencies as possible.
Personal note: The situation is slightly worse this morning with the fire moving a bit further south – and closer. My area is still covered by a mandatory evacuation advisory. On the positive side, winds have died down and the aircraft are flying and dropping water from the sky.
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 © 2007 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.