This is a 10:50 a.m. intraday update of Turov on Timing for Friday, October 5, 2007.
TOT daily traders are currently 400% long. The odds are high that either the SPX will advance further today or at least not decline much from here. TOT daily traders advised to add 1 additional unit to their position if the SPX breaks the early morning high: Go an additional 100% long at SPX 1552.50 stop.
Raise your stop to SPX 1542 on the existing position and if the additional position is taken, use an SPX 1542 stop on that as well.
If still long on the close, which I expect will be the case, carry the position over the weekend and into Monday.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Monday’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.