This is a 9:55 a.m. intraday update of Turov on Timing for Tuesday, November 16, 2010.
The SPX is down almost 1% to about 1187. The SPX 1180 area should provide excellent short term support in the absence of startlingly negative news. TOT daily traders are advised to go 300% long at SPX 1182. If you go long, use a tight stop at SPX 1175. If still long at the close, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in about 12 hours – or sooner if circumstances warrant.
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