This is a 10:30 intraday update of Turov on Timing for Friday, April 13, 2012.
The day is going perfectly for us. Led by weakness in AAPL and GOOG (as anticipated last night), the SPX is down almost a full percentage point. TOT daily traders are a maximally bearish 500% short.
The SPX is currently about 1375. The risk:opportunity for the balance of the day is no better than neutral. Protect your profit by lowering your buy stop to SPX 1378. If the SPX declines to 1372, lower the stop again to SPX 1375, and for each additional 3 point decline, lower the stop by an equivalent 3 points. If still short as we approach the close, cover the position on the close and go into the weekend fat and flat!
Have a great weekend, thanks for the opportunity to be of service, and I will update again six hours before the start of Monday’s session.
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.