This is a 12:35 intraday update of Turov on Timing for Tuesday, April 12, 2011.
TOT daily traders went 200% long at SPX 1311.99 at 10:45. The SPX is currently just fractionally above there. TOT daily traders are now advised to go an additional 200% long at SPX 1313 stop. If you take the new position, raise your stop on the entire position to SPX 1305. If not stopped out, carry the position overnight and into tomorrow. If you are stopped out, reestablish the 400% long position on the close and carry that overnight and into tomorrow. Barring bad news overnight, I expect a very strong opening tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of tomorrow’s session – or sooner if circumstances warrant.
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