Another Gap Up??? What has changed in the Markets???

1:10 Update

Wednesday we went 2-1 on our College hoop plays and 1-0 on your college hoop setups. The two winners in the plays won the game out right and the winner in the setup also won the game outright. Two of the dogs were 9 point dogs that won the game.

Thats always a good sign when you handicapping produces results like that.

I received a few emails last night that it was confusing the way I set up the subscriptions. When I do things that is always a possibility. Let me try to explain it in more detail:

  1. There are 4 different subscriptions to the site now. From daily to Weekly to Monthly and then yearly. All four of these has a three day free trial. The free trial is only available to first time users.
  2. All of the subscriptions entitle you to the same plays, setups and access to my mind during the term of your subscription.
  3. The different subscription prices are designed to give subscribers a savings that longer the subscription they take
  4. All is done through paypal which can be funded by most credit cards.

That should explain it but if anyone has any additional questions please ask. The site is still a work in process as you can see. But the changes are happening right before your eyes:)

I am going to try to comment on top 25 match ups when I get a chance. I enjoy doing the write ups and from time to time there are some very unique circumstances to consider. Usually the games are almost never able to be evaluated by a simple cookie cutter approach.

We are rapidly approaching tournament time which tends to be the most exciting part of the year for college hoops. Now would be an excellent time to join our group. This season has really been a great season for my methods. We are almost at 170 plays and almost right at a 60% win rate. And all with very little draw down. I really doubt at this point there are many handicappers that even come close to our record on this service.

Enough bragging:) To join just hit the paypal button on the upper right. And if anyone has any questions I will be around most of the evening. Best way to catch me is via email.

Good Luck Tonight

RickJ

 

Well I said that we needed to look at the quality of the rebound to determine if the lows are in. In 3 days the market has gained over 700 points. That’s quite a rebound:) We are above the 10 day MA solidly now. Still aways to go from the 50 MA and the 200 is still quite a bit away.

The 10 day has turned to slanting positive but the 50 and 200 still lean down. So that is where we are this morning with the market looking to gap up about 1/4 % 30 min before the open.

I put on a mean reversion trade just before the close yesterday shorting SPY using SDS as the vehicle. We are overbought and I intend to see if I can take advantage of it. Especially since we are still below the 50 and 200 and the Nasdaq has not crossed the SP500 on a weekly basis. That last indicator still has a bit to go. I doubt it will get there by the end of the week.

If your wanting to know why the last indicator is so important. Going back almost all of the gains in the market has occurred when the Nasdaq lead the SP500 weekly. So simple minded as I am I use that to gauge my strategy. I will be sure and let you know when that signal gives a full speed ahead!

Not much news on the markets this morning. The fed is in full reverse mode now on their hiking rates. This has to lead you to wonder what got into them in the first place. The one word in my mind to explain it is “irresponsible”. But everyone has a different take of course.

Today I may take some day trades but my main theme right now is mean reversion short. These monster markets do not usually indicate a healthy change in direction to the markets. They are typically bear market bounces. But only time will tell.

One thing I have learned over the years is its much more important managing your trades then the process of when to make them. You can take one trader that is brilliant in knowing when to trade against another that is brilliant at managing and the 2nd trader will come out on top every time. Both are important of course but if you do not now how to manage positions your toast.

You can follow along now with my trades for free. Just follow @rickjswings and I will add you to the private twitter list.

And yes another winning evening in sports wagering last night going 2-1 in college hoops! This college hoop season has been about as solid as it gets. Almost 60% winners with virtually no drawdown. I would put my college hoop record this season up against any of the services that charge 4 or 5 times more. They wouldn’t have a chance:)

Back to work. Good luck in the markets today. And if you had a chance to watch the closing argument scene in “snow falling on cedars” let me know what you thought of it. Its one of my favorite.

RickJ
Rickjshandicappingpicks.com
twitter: rickjsportplays
Twitter: Rickjswings
Private Twitter: Rick_sports

 

 

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