And here we go! Markets off almost 1% 30 min before the open

The pullback everybody and their brother have been predicting might just be here. A down day yesterday along with a gap down this morning seems to confirm it. The question is, of course, how far do we pull back.

My short term trading has been working out very well however I made an untimely buy in DIS yesterday afternoon and it was announced after the close the CEO is leaving:( Now we are getting a gap down in DIS of about 2%. Disney has a deep bench and I expect the stock to recover quickly. But whether I stick around is another question. I am going to see how the stock trades this morning.

Also, I am long TLT which I plan on exiting soon and long oil which I plan on keeping. But overall a very light position in the market. I will be looking for a place to get long by mid-April to take advantage of the seasonality going into the end of this month. Most likely it will be tricky figuring out where to get in:) We are not close to mean reversion territory so that is no guide right now.

I will make this short this morning as my TradeStation platform is acting up again. I am going to try to figure out if I can switch to Multi charts without losing any of my indicators and systems. If so it will be a no-brainer.  Its amazing to me a program like TradeStation has not upgraded to 64bit. I will never figure that one out. Even more so how they have managed to stay in business without upgrading. The competition is fierce for trading platforms. Most likely everyone is as lazy as me since it takes quite a bit of time and effort to get everything moved over.

I, however, am going to give it a go. I will let you know how it turns out!

And MLB started in earnest yesterday and our first play on Colorado +167 won 10-5. Greinke, as usual, was overrated at home especially it being the first week of baseball.

My private twitter feed is free now for the markets. So you can follow my trades and my reasoning by following @rickjswings.

Good Luck Today


RickJ’s Handicapping Picks

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