This is a 2:45 interim update of Turov on Timing for Wednesday, February 2, 2005.
TOT daily traders came into the session 400% long from SPX 1165.31 and have taken profits on half the position at an average price of SPX 1194.50. We continue to try to sell the remaining two units, one each at SPX 1196 and the other at SPX 1197. Unless and until that occurs, raise the stop on any remaining position to SPX 1190. If still long as we approach the close, liquidate any remaining position at the market on the 4pm close.
Thanks for the opportunity to be of service, and I’ll email you again in about 12 hours – or sooner if circumstances warrant.
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