This is a 10:50 a.m. update of Turov on Timing for Wednesday, June 3, 2009.
On the overnight message, I said, “The market is most likely to sell off in the morning and then bounce back in the afternoon.” Well, we’re halfway there as the morning has been delightfully weak. TOT daily traders came into today’s session 300% short from SPX 945. It’s currently about 931.
Cover your short AND simultanously go 300% long at SPX 932.50 stop. Once you go long, use a 10 point protective sell stop on the position. If the SPX 932.50 level is not reached by noon Eastern time, I’ll update then. Otherwise, I will update next at between 3:45 and 3:55 p.m.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
Turov on Timing is Copyright © 2009 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.