This is a 10:45 intraday update of Turov on Timing for Tuesday, May 24, 2011.
TOT daily traders went 300% long at SPX 1318 earlier this morning. The SPX is currently about 1319. I am unimpressed with the action. Raise your stop to a breakeven SPX 1318. If not stopped out prior to the close, take your profit on the close and go overnight flat.
Thanks for the opportunity to be of service, and I’ll update again in about 15 hours – or sooner if circumstances warrant.
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