This is an 11 a.m. intraday update of Turov on Timing for Friday, January 15, 2010.
On the overnight hotline, I said, “The potential exists for a significant decline today.” As I write this, the SPX is down about 11 points. It’s POSSIBLE, to quote Al Jolson, “You ain’t seen nuttin’ yet.”
TOT daily traders come into today’s session 400% short. Lower your stop to SPX 1151. If not stopped out, carry the position over the weekend and into Tuesday.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of Tuesday’s trading session – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2010 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.