This is a 2:25 pm intraday update of Turov on Timing for Thursday, October 11, 2007.
The market has sold off sharply within the past half hour, and neither I nor any traders with whom I have spoken know why. It’s disconcerting not to know the reason, and that increases all investors’ nervousness. TOT daily traders went 300% long at SPX 1573 earlier today. The recent selloff brought the SPX to a low of 1559.81. As I write this, the SPX is not much above that. In an atmosphere of ignorance, employ a protective stop at SPX 1556. If not stopped out, I will update again at 3:50 pm.
Thanks for the opportunity to be of service, and I’ll email you again in six hours before the start of tomorrow’s session – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2007 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.