This is a 9:50 a.m. intraday update of Turov on Timing for Monday, March 17, 2008.
The failure of the market to thoroughly wash out in the early going today is bearish, not bullish. I would not go bargain hunting just yet. I’d be more interested in looking for a higher level to short, for a day trade, if it occurs, or if it doesn’t, standing aside as we have been doing.
I will have another intraday update later.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours.
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