Back to the markets after a weekend of Hoops! - Rickj's Handicapping Picks

Back to the markets after a weekend of Hoops!

2:30 Update

Sunday was a rare day with no plays. Notre Dame was close. But the advantage of no stretching wagers showed up as it was a borderline play that I passed on.

It’s never a good idea to stretch plays. I know everyone enjoys having action on the games including myself. But that betting just to have action on a game gets very expensive. It adds up. And when you’re trying to beat the books year in and year out in an endeavor that very few can accomplish giving away money just does now work for me!

Tonight there appears to be a number of 1/2 unit plays in both the NHL and NBA. In addition, I have some opinions about the final four I will be sharing with subscribers very soon.

Finally, baseball is almost here. If you have any interest at all in joining us during the baseball season I recommend subscribing before opening day to take advantage of the 130.00 back offer. Once the opening day is passed the subscribers that will have the first step toward qualifying will be set. The details of the offer are on this page to the right. Read it over and if you have any questions please let me know.

Good Luck Tonight!

RickJ

RickJ’s Handicapping Picks

 

As I am writing this the market has dropped 10 pts in the globex ES to sit still positive 3.25 pts. The drop has been a continuous move straight down.

Not much in the way of news this morning except that this week is going to inundate with FedSpeak, not the least of which will be Yellen giving us her wisdom. If you have an idea what the schizophrenic Fed will be saying this week let me know ASAP!

By the end of the day Friday I got long several more swing trades with the idea that the 3-day pullback was about done and we would at least head up a test the highs. I am not as optimistic this morning about that view however, I still think its the most likely scenario. Sentiment despite this incredible run up is still bearish. That in my mind say “Be Long”.

We will see. I am not going to get stubborn on these positions and will be quick to take good profits as I have the last month or so. It has worked out very well for me but sooner or later my nimbleness is going to be tested. It always is:)

If you inclined to look for swing trade longs today I would tighten the stops and lower the profit targets this go around. I will be looking for some good setups but I am long quite a bit right now and not inclined to add too much more to my exposure on the long side.

As far as gap trades this morning I am passing this morning. Mondays tend to be the worst day for trading gaps so no reason to make it any more difficult than it already is.

As to baskets I hope everyone enjoyed an exciting weekend in College Hoops. The Syracuse win was an NCAA Tournament classic!

You can follow my trades both by taking a look at my spreadsheet which I update after I close a trade or by following @rickjswings my private swing trade twitter feed. It is free for now. And might well be for awhile with my working on baseball handicapping full time now.

Good Luck Today

RickJ

RickJ’s Handicapping Picks

 

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