This is Turov on Timing for Monday, November 17, 2008.
An absolutely horrible end to last week. They happen like that from time to time, but rarely as badly. But – such
weeks have happened in the past, and we’ve always recovered.
Futures are currently trading about 2% below fair value. The key to today may well be the amount of hedge fund
redemptions that occurred by the November 15 deadline – and that is a complete unknowable at this point.
Unrelated to that, the daily model is neutral today, as is the NASDAQ model, and we will stand aside.
I will update again between 3:45 and 3:55 with a preview of Tuesday. Thanks for the opportunity to be of service,
and I’ll email you again then.
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