This is a 1:20 pm intraday update of Turov on Timing for Wednesday, January 17, 2007.
TOT daily traders are 400% long from SPX 1431.50. The SPX is currently about 1434 but not looking all that good. I see no pressing reason to maintain the position, and we will therefore tighten our stop yet further.
I recommend raising your protective sell stop from SPX 1428.50 to SPX 1432. If not stopped out, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in 14 hours – or sooner if circumstances warrant.
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