This a 2:15 intraday update of Turov on Timing for Thursday, February 24, 2005.
The SPX is currently up 5-1/2 points, right at our daily trader 1196.40 target.
However, my intraday work shows that there is quite a high probability that tomorrow’s market will follow in the direction of the end result of today’s trading. Therefore, the position has more risk than I had anticipated it would. In essence, I don’t like the postion as much as I anticipated I would.
Therefore, TOT daily traders are advised to use a very close protective buy stop at SPX 1198.40. If not stopped out and if the SPX is closing down on the day, then carry the position overnight and into tomorrow. If the SPX is closing up on the day, then close out the position on today’s 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) 2005 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.