This is a 1:30 p.m. intraday update of Turov on Timing for Monday, October 19, 2009.
TOT daily traders are currently 300% short with a protective buy stop at SPX 1101. The high for the day so far is SPX 1099.11 and the SPX is currently about 1097 and looking a bit tired. The odds are that the stop will not be hit, and the odds are that the daily model will be bearish tomorrow. Maintain the position and the stop for the balance of today, and if not stopped out, carry it overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in about 14 hours.
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