This is a 1:10 p.m. intraday update of Turov on Timing for Friday December 18, 2009.
TOT daily traders went 300% long on the opening today. The SPX is up just a tad from that level.
I’m not impressed by the market’s action today. Currently, the SPX is about 1099 and a fraction. Raise your stop to a very tight SPX 1098.
Thanks for the opportunity to be of service, and I’ll email you again 10 minutes before the close of trading today – or sooner if circumstances warrant.
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