This is a 1:10 p.m. intraday update of Turov on Timing for Friday, April 2, 2004.
The SPX is surging nicely today, up almost 10 points as I write this. TOT daily traders are in the envious position of being a maximally bullish 500% long.
Preliminary work makes it rather probable that the risk component of the daily model will be high enough on Monday to throw the overall daily model into a neutral ranking. That being the case, raise your protective sell stop by 10 points to SPX 1136. On the upside, if the SPX gets to 1147, take your profit. If neither stop nor limit is reached, carry your position over the weekend and into Monday.
Thanks for the opportunity to be of service, and I’ll email you at the regular time Monday morning – or sooner if circumstances warrant.
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