This is a 10:50 interim update of Turov on Timing for Tuesday, October 30, 2007.
On the overnight hotline, I said, “The market badly needs some softness today, and especially this morning, in order to be able to healthily advance for the balance of the week.” Well, I’m certainly pleased that has come to pass, although I would have liked to see the NASDAQ 100 be softer than it has been. In any event, going short into this weakness would be just a bit too risky when compared with the potential gain. And I certainly don’t want to go long just yet. So, for the time being, we will stand aside and let the dust settle a bit more.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of tomorrow’s session.
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