This is a 10:55 a.m. intraday update of Turov on Timing for Wednesday, May 21, 2008.
The SPX is currently down about 3 points at about SPX 1410. TOT daily traders are 300% long. Raise your stop to a very tight SPX 1408. If stopped out, move to the sidelines for the balance of the session. If not stopped out, carry your position overnight and into tomororow.
Thanks for the opportunity to be of service, and I’ll email you again in 15 hours – or sooner if circumstances warrant.
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