This is a 1:33 intraday update of Turov on Timing for Tuesday, April 24, 2012.
TOT daily traders went 100% long at on the opening today at SPX 1366.97. The SPX is currently about 1371. Lock in at least a small profit by using a sell stop at SPX 1369. If not stopped out, take your profit on the close and go overnight flat.
Apple earnings after the close will probably have a big influence on the opening tomorrow. In a news-neutral environment – which we’re certain NOT to have – I would expect to see the market open weak tomorrow morning and then move up later in the day. But considering AAPL could easily gap up or down 30 points tomorrow (that’s NOT a prediction, but rather merely an observation on what could happen if there were either a big positive or negative surprise), we will officially stand aside overnight. Unofficially, I like the short side overnight.
Thanks for the opportunity to be of service, and I will update again in about 12 hours.
Turov on Timing is Copyright © 2012 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. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.