This is a 9:50 a.m. intraday update of Turov on Timing for Thursday, October 27, 2011.
The market catapulted higher this morning on the Euro deal. My first question is, “If this is THE SOLUTION, then why is gold almost unchanged?” Answer: If anyone thinks this Euro deal solves the problem, he’s been smoking Acapulco Gold too long.
In any event, the market is where the market is, and as the bullish reading on the Intermediate Term Model indicates, it probably has farther to go – but not much so in the very short term.
The SPX is currently in the mid 1270’s. I doubt it will make it to 1280 today, but if it gets into the low to mid 1280’s, it’s a screaming short. TOT daily traders are advised to go 100% short at SPX 1282, another 100% short at SPX 1283, and another 100% short at SPX 1284. If you go short, use a protective buy stop, somewhat distantly, at SPX 1305. If we are short as we approach the close (which I don’t really expect since I don’t expect SPX 1282 to be reached), carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I will update again in about 15 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2011 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. 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 stop 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.