On the regular overnight Turov on Timing, I said, ” TOT daily traders come into today’s session 300% long. Maintain the position with a protective sell stop at SPX 2155 (that’s one point lower than yesterday). If the SPX advances to 2175, raise the stop to 2170, and for each additional 5 point advance, if it occurs, raise the stop by an equivalent 5 points. If still long as we approach the close, take your profit on the close AND go 200% short on the close, carrying that short position overnight and into Friday.”
CHANGE THAT! for the following reason: My research foresees that the market will most likely be up in the morning and down sharply later in the day. So, I will want to go short, but NOT for the early part of the day. Therefore, if still long as we approach the close, take your profit on the close, but do NOT simultaneously go short. Instead, go overnight flat. I anticipate a short sale recommendation in late morning or early afternoon tomorrow, but not pre-opening.
Thanks for the opportunity to be of service and I’ll email you again in about 12-14 hours – or sooner if circumstances warrant.
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