This is a 12:57 p.m. intraday update of Turov on Timing for Tuesday, February 12, 2008.
TOT daily traders went 200% long at SPX 1351 about ten minutes ago. The SPX is currently about 1353. Use a protective sell stop on the position at SPX 1343. If not stopped out and the SPX is closing at or above 1348, carry your position overnight and into tomorrow. If not stopped out and the SPX is closing below 1348, take your small loss on the close and go overnight flat.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of tomorrow’s session.
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