This is a 2:20 intraday update of Turov on Timing for Tuesday, May 18, 2004.
The SPX is up about 8 points at about 1092, as I write this, after having been as high as 1094. TOT daily traders should raise your sell stop to a very tight SPX 1090 to lock in a 5+ point countertrend profit.
If the SPX rallies to 1098 before being stopped at 1090, liquidate there.
If neither level is reached prior to the close, take your profit on the 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) 2004 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.