This is an 11:00 a.m. intraday update of Turov on Timing for Friday, October 19, 2007.
The SPX is currently down about 17 points, which is exactly want we wanted it to do. TOT daily traders are currently a maximally bearish 500% short. Lower your buy stop to SPX 1552.
Some internal indicators are even worse than I expected, and I MAY reverse my previous advice to cover the short on the close. I’ll have another intraday update sometime between 3:30 and 3:50 p.m. IF I reverse that “cover short” recommendation. If there is no update, then do indeed cover the short on the close
Thanks for the opportunity to be of service, and I’ll email you again next either just prior to today’s close (as per the previous paragraph) or six hours before the start of Monday’s session.
Turov on Timing is Copyright © 2007 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.