This is Turov on Timing for Thursday, November 4, 2010.
First, please accept my apologies for not updating at 3:50. No excuse; I simply forgot.
Second, please note that this is the normal overnight report for Thursday.
TOT daily traders went 300% long at SPX 1194.40 Wednesday. We used a 1% stop, which was 1182.46. The low for the day was 1183.56, so we were not stopped out. The SPX closed at 1197.96, so we have a paper profit.
On Thursday, I expect to see late Wednesday’s advance continue – for awhile, and then collapse. TOT daily traders come into Thursday’s session 300% long. Raise your stop to SPX 1189.
Thanks for the opportunity to be of service, and I’ll email you again at 10:50 a.m. (Promise!) – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2010 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.