This is a 10:35 intraday update of Turov on Timing for Thursday, December 10, 2009.
TOT daily traders went 300% short into the news-inspired early morning strength. Since then the market is little changed. However, I would not like to see the SPX break the morning’s highs. Therefore slightly lower your protective buy stop on the position to SPX 1108 stop. If not stopped out, carry your position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in about 15 hours – or sooner if circumstances warrant.
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