This is a 10:27 intraday update of Turov on Timing for Wednesday, January 13, 2010. It is in lieu of the 10:45-11:00 previously announced message.
On the overnight hotline, I said, “I expect to see some strength in the market in the early going, but it should fade as the day progresses.” Well, that’s exactly what has happened, but the fade has come sooner than expected. After a successful short sale yesterday, TOT daily traders took a relatively small 200% long position on the opening today. That position is showing a small loss with the SPX currently about 1134. Raise your sell stop to a tight SPX 1133. At 10:45, if not previously stopped out, sell the position at the market.
Furthermore, at 10:45, go 300% short at the market. Once short, use a 1% buy stop on the position. If not stopped out, carry the position overnight and into tomorrow UNLESS I issue a contradictory advisory at 3:55.
Thanks for the opportunity to be of service, and I’ll email you again at the regular time OR at 3:55.
Turov on Timing is Copyright © 2010 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.