This is an 11:35 intraday update of Turov on Timing for Thursday, February 23, 2012.
On the overnight message I said, “After early morning weakness, I expect to see the market move higher today.”
That’s exactly what has happened so far.
I also said, “Stand aside for now, and I’ll email you again when we have a favorable entry point.”
Here’s what has happened: I liked the early action in the Dow Jones Industrials, and I went 200% long the DJII for all managed Program B accounts this morning, basis 12,954 (the DJII is currently about 12,984). I also liked the early action in the NASDAQ 100, and I went 200% long the NDX for all managed Program D accounts this morning, basis 2586.51 (the NDX is currently about 2596). But I did not like the action of the SPX.
I considered the possibility that the anticipated strength of the DJII and NDX would pull the SPX higher, but I don’t like to invest on that basis. It works often, but it fails often also. So I didn’t “email you again [with] a favorable entry point.”
We’ll see what happens, but we probably missed the “favorable entry point.” So be it. Tomorrow’s another day.
Thanks for the opportunity to be of service, and I’ email you again six hours before the start of tomorrow’s trading session – or sooner if circumstances warrant.
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 times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.