This is an 11:00 intraday update of Turov on Timing for Thursday, December 3, 2009.
TOT daily traders went 300% short at SPX 1113 early this morning. The SPX is currently a few points below that. Lower your buy stop to an SPX 1113 breakeven as I feel the risk of a reversal is high – even though a downside move is more probable. If not stopped out, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in about 14 hours.
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