This is a 3:35 p.m. intraday update of Turov on Timing for Friday, September 11, 2009.
The SPX has stayed stubbornly stuck near the unchanged line all day. TOT daily traders went a maximally bearish 500% short on the opening today. I want to be short going into Monday, but not at the 500% level. TOT daily traders are advised to cover 2 of the 5 short units at 1046.50 stop, and if that level is not reached, then at the market on the close, carrying over the weekend the remaining 300% short position.
Enjoy the weekend, thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Monday’s trading session.
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