This is Turov on Timing for Wednesday, October 21, 2009.
The SPX declined 6.85 points yesterday to close at 1091.06. TOT daily traders went 300% short at SPX 1094.67 on Friday and have held the position since then.
Somewhat surprisingly, the daily model is modestly bullish today. TOT daily traders are advised to take profits at SPX 1092 stop or at SPX 1088 limit, whichever comes first. Once you cover, stand aside for the balance of the session.
Thanks for the opportunity to be of service, and I’ll email you again in about 28 hours as I will be traveling much of the day, returning home late Thursday night.
Turov on Timing is Copyright © 2009 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.