This is a 3:50 intraday update of Turov on Timing for Friday, November 2, 2012.
TOT daily traders went 200% long at SPX 1414 yesterday and took profits at SPX 1430 today. TOT daily traders then went 200% long again at SPX 1421. Our stop is at SPX 1412, close to the current price. If not stopped out, carry the position overnight and into Monday, when I expect to see the market recover most of today’s loss.
Have a great weekend, thanks for the opportunity to be of service, and the next update will be six hours before the start of Monday’s trading session.
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