This is an 11:30 a.m. intraday update of Turov on Timing for Thursday, June 29, 2006.
The SPX is currently about 1257.50 after having been as high as 1259.39. TOT daily traders are 400% long at an average price of SPX 1242.75.
The market is looking tired here, and I really don’t want to get subjected to the 2:15 Fed response volatility. Tighten your stop to a very close SPX 1255, locking in a VERY solid profit. On the upside, if we get to SPX 1260, take your profit there. In the unlikely event that neither level is reached, then take your profit on the close and go overnight flat.
Thanks for the opportunity to be of service, and I’ll email you again at the regular time – or sooner if circumstances warrant.
Turov on Timing is Copyright (c) 2006 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.