Is Barr heading to jail or at least contempt? What will this do to the markets? My thoughts.

Is Barr heading to jail or at least contempt? What will this do to the markets? My thoughts.

At one point on Monday the Dow was off 500 pts and had a monster rally ending up down only about 40 pts.

But it looks like the rally is short lived as this morning we find ourselves with another large gap down of almost 1% in the Nasdaq and over 1/2 % in the other index’

The sentiment seems to be changing. Could this be the “Sell in May” theory kicking in?

I used to pay a lot of attention to that but now use other more reliable indicators as to profitable EV opportunities.

TLT and the Dollar are positive while everything else is underwater. This is shaping up to be a down day. Perhaps even a trend day down.

Usually, you need to wait to see how the first 30 min go to get a feel for the type of day you will be looking at.

I am still long INTC, and have several other short term trades on this moment. I always keep a solid portfolio of income-producing assets that I re-balance no more than once a month.

I have a number of stocks on my radar this morning, but until I see some signs of life, I most likely will not take the trades.

On the home political front, things are getting insane again. You would of thought the Mueller report would have settled people down. But the media will not let it rest. And the Dems think this is their ticket in 2020.

So now they are talking about jailing the Atty Gen, Barr. Let me give you a hint, its not going to happen. The Dems are on the wrong side of this issue. And its not even close. I will not get into the details, as its beyond the purposes of this site. But you can take it to the bank that the fight between Barr and the House is a mismatch. Barr has the upper hand.

Remember also, he is no Jeff Sessions. He is ex CIA , and has been an atty general before. Add to that he is the brightest person in the room.

On the international front, their is a lot going on right now, almost too much to consider. Trade, Iran, Venezuela, Israel to name a few. And its all heating up. The U.S. is sending war ships to the mid east. So, something to keep a watch on. If fighting does break out, Oil and Gold will be excellent protections for a portfolio.

They will also be excellent predictors of fighting before it breaks out. If you see either sky rocketing it is time to take notice.

As a part of my sports handicapping subscription I sent out almost all of my trades via Viber. This has been a nice valued added feature of the handicapping service. At $49.00 a month for all sports plays I handicap, you get most of my stock trades.

I have been only as a sports handicapper for almost 15 years now and get almost all my business from long-time subscribers and word of mouth. Few handicappers can positive EV over that period of time. But, I teach how to handle variance to deal with these.

As an update: We are no close to 30 min before the open and TLT is +1/2%. This would change my opinion on a partial gap fill trade. I would not consider any gap fill trades today.

If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.

It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:) In addition, I share all my short term swing trades to subscribers.

Good Luck Today

RickJ

RickJ’s Handicapping Picks

https://rickjshandicappingpicks.com/investing

Skype: Ricca

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