We’re having a VERY good day today. On the overnight message, I wrote, “Expect a mixed session today, with the market opening with some modest strength, followed by weakness later in the day.” That’s exactly what has happened with the market opening strong and then selling off sharply. Within a few minutes of the opening, the SPX was up to almost 2382. TOT daily traders went 300% short at SPX 2378 at 9:55. The SPX is currently at about 2348, so we have a whopping 30 point profit times 3 units, or 90 points. Lower the stop to SPX 2362, and as I said on the overnight message, “If the SPX is closing down on the day, cover the short on the close” (if not previously stopped out).
Thanks for the opportunity to be of service, and I’ll email you again in about 10 minutes with an important message about something different.
Turov on Timing is Copyright © 2017 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 including the fact that past performance is not a guarantee of future performance. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.