This is a 3:25 intraday update of Turov on Timing for Thursday, March 29, 2012.
A very nice day so far for TOT daily traders who went 400% long at SPX 1394.40 at 10:45 this morning. The SPX is currently about 1402. Raise your sell stop to SPX 1398. If the SPX advances to 1404 before declining to 1398, raise the stop again to SPX 1400. And for each additional 2 point advance, raise the stop by an equivalent 2 points.
And now for an additional change in my previous recommendation (but first a reason why): If there is no significant weakness today, the odds favor a modestly strong opening tomorrow, followed by a possibly nasty selloff later in the session. So… if not stopped out, carry your position overnight and into tomorrow. We will maintain the same stop tomorrow morning as we have today, but I expect that we will be exited the long side of the market sometime within the first hour of trading tomorrow.
Thanks for the opportunity to be of service, and I will update again in about ten 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.