This is a 10:52 intraday update of Timing for Tuesday, August 16, 2011.
TOT daily traders came into today’s session 200% short and went an additional 200% short soon after the opening.
The outlook for the afternoon is very “iffy.” Take your profit on half the position now (we’ll use the opening on a one minute bar chart at 10:55 for our “official” closing price), and lower your stop to SPX 1199 on the remaining 200% position. 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 email you again in about 15 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2011 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.