This is a 10:58 a.m. intraday update of Turov on Timing for Thursday, October 15, 2009.
The anticipated “weak early morning today” has come to fruition. TOT daily traders came into today’s session 200% short. Cover the position at SPX 1089 stop or at SPX 1084 limit, whichever comes first. In addition, if you cover at SPX 1089 stop, also go 200% long at the same price and same time. If you go long, use a tight 7 point protective sell stop on the long position.
Thanks for the opportunity to be of service, and I’ll email you again before the close.
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