This is a 3:49 intraday update of Turov on Timing for Thursday, February 2, 2012.
There is NO CHANGE to my previous recommendation for TODAY.
However, I want to call to your attention that there is a 100% certainty that the daily model will be bearish tomorrow, Friday, although I do not currently know of what size. Of course, as always is the case, that assumes a news-neutral environment. However, the jobs report will be announced prior to Friday’s market opening, and that will not be “news neutral.” And, as always, I have no opinion as to what future news will be (and in sum, everybody else’s opinions are always market neutral, as per the efficient market theory, this part of which I agree). I will be making a short sale recommendation (of currently unknown size) on tonight’s overnight message, basis the Friday day session which begins at 9:30 a.m., which is after the announcement of the jobs report. Subscribers may elect to go short prior to 8:30 a.m., and I leave that decision to them. FYI, I have already entered orders as of today’s close to take an inverse (short) position in the NASDAQ 100 fund for all managed accounts for which inverse positions are allowed.
Thanks for the opportunity to be of service, and I will update again six hours before the start of Friday’s session.
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