This is a 10:50 intraday update Turov on Timing for Friday, June 11, 2010.
I’m shocked at the strength of the rebound this morning – and after 43+ years in this business, “shocked” is not something that happens often.
TOT daily traders are short with a buy stop at SPX 1089.69. Candidly, I really don’t know what to expect of the market for the balance of the day, considering the rebound this morning, but the market is close enough to that SPX 1089.69 level that I don’t see any point in changing it.
If not stopped out prior to the close, cover the short on the close and go into the weekend flat.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Monday’s session – or sooner if circumstances warrant.
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.