This is a 12:27 intraday update of Turov on Timing for Friday, June 5, 2009. Sorry about being a few minutes late.
On the overnight message, I said, “I expect to see the market sell off in the early going and then rally as the day advances.” So far, that’s what happened. Unfortunately, the turnaround happened at about 10:15, a half hour too early to do us much good.
TOT daily traders are currently 300% long from SPX 945.64. The SPX is currently exactly at that same level. Raise your stop to SPX 937. If not stopped out, sell the position on the close and go into the weekend flat. And with that in mind
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Monday’s trading session.
Turov on Timing is Copyright © 2009 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.