This is a 10:55 a.m. intraday update of Turov on Timing for Wednesday, September 9, 2009.
TOT daily traders went 300% short at SPX 1025.36 on the opening today. The market’s about 3 points up from there at present.
Reduce your buy stop to a more protective SPX 1033. On the downside, if the SPX declines to 1020, lower your stop to SPX 1025, and for each additional 5 point decline, lower your stop by an equivalent 5 points. If not stopped out, carry the position overnight and into tomorrow, unless there is a contradictory advisory shortly before the close today.
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 © 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.