This is a 10:55 intraday update of Turov on Timing for Monday, May 16, 2011.
After expected continuation softness this morning, the market has moved higher today. TOT daily traders went 300% long into that weakness at SPX 1334. The SPX is currently about 1341.
Raise your protective sell stop on the position to a breakeven SPX 1334. If not stopped out, take your profit on the close and go overnight flat UNLESS there is a contradictory email from me prior to the close
Thanks for the opportunity to be of service, and I’ll update 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.