This is a 10:30 intraday update of Turov on Timing for Wednesday, November 17, 2010.
TOT daily traders went 300% long at SPX 1179 earlier this morning. The SPX is currently about 1182. Raise your stop to an SPX 1179 breakeven. On the upside, in the unlikely event that the SPX rallies to 1191.40, take your profit. If still long as we approach the close, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in about 12 hours – or sooner if circumstances warrant.
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