This is a 10:35 intraday update of Turov on Timing for Thursday, December 30, 2010.
The SPX is currently down a little over a point, keeping in tune with this week’s pattern of virtual nothingness. However, my data indicates the probability of a modest rally from here.
TOT daily traders are advised to go 200% long at the market at 10:45, in about ten minutes. After you go long, use a rather tight 5 point sell stop on the position. On the upside, if you can scalp a 5 point profit, take it. So we’re risking 5 to make 5, but the odds of the market advancing versus declining are about 3:2. If still long as we approach the close, sell on the close and go overnight flat.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of tomorrow’s session – or sooner if circumstances warrant.
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