This is a 10:45 intraday update of Turov on Timing for Thursday, December 2, 2010.
TOT daily traders are currently 300% long from SPX 1180.55. The SPX is currently about 36 points above there at about 1216. Raise the stop on the position to SPX 1209. On the upside, take your profit at SPX 1220. If still long as we approach the close, take your profit on the close. Furthermore and unrelated to when you take profits on the long position, IF the NASDAQ 100 Index ($NDX or NDX.X on most quote machines) is above 2174, go 300% short the SPX at the market on the close and carry that position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in about 15 hours.
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