This is a 10:25 intraday update of Turov on Timing for Wednesday, November 7, 2012.
TOT daily traders are 200% short from SPX 1421. The SPX is currently about 1402. TOT daily traders are advised to cover the short at SPX 1406 stop. If the SPX declines to 1400 before reaching 1406, lower your stop to SPX 1404, and for each additional 2 point decline, lower your stop by an equivalent 2 points. In the somewhat unlikely event that the SPX declines to 1390 before hitting a stop point, take your profit there. In the equally unlikely event that we are still short as we approach the close, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll update again at 9:00 a.m. tomorrow morning, NOT at the usual time tonight, OR sooner if circumstances warrant.
Turov on Timing is Copyright © 2012 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.