This is a 3:28 intraday update of Turov on Timing for Monday, August 6, 2012.
Since 10 o’clock, the market has displayed an (almost?) unprecedented lack of volatility, staying in a very tight range. TOT daily traders have NOT been able to act on today’s short sale recommendation. As things stand now, the recommendation has BECOME the following (it’s not a change): TOT daily traders are advised to go 300% short at SPX 1396 stop. If the SPX advances to 1400 before reaching 1396, raise the entry sell stop to SPX 1398. And for each additional 2 point advance, raise the entry short stop by an equivalent 2 points.
And this part is new: Once short, use a 1/2% protective buy stop on the position. If short on the close, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll update again in about ten hours.
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 recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.