Blastoff…..will the rally in the Market continue Thursday?

8:00 Update

Plenty of early MLB games so will do my recap a bit early today:

Thursday we had a busy day with 7 plays. 2 one unit plays and 5 1/2 unit. It was an unusual day in that we won every NBA play easily and lost every MLB play. We ended up with a small gain for the day.

Our two 1 unit plays were Tampa Bay +104 losing 1-4 and winning in the NBA with San Antonio +4.5 96-91. On the 1/2 unit side we had two in MLB losing with Atlanta +132 0-3 and also losing with Arizona +150 1-3. Our NBA 1/2 unit plays all won with Denver +10.5 . Portland Under 216.5 and Houston Under 220.

Also, the NBA regular season is now over and we had a credible year in the NBA  :

Regular Season 19-14-1
1/2 unit
Sides 14-12
Totals 9-6

For +5.7 units on the  year in the regular season.

Notice the trend. Another sport where we have a positive year. My constant adjusting is paying off as every sport now has a good expectation for a positive year. Of course, I am jumping the gun but hopefully, I will be able to say that also at the end of the MLB season.:)

There are not many services that can produce positive returns in one sport consistently let alone every sport!

You can join us for the Baseball, NHL and NBA plays @rick_sports. The sports side of this is a subscription service, however, you welcome to try out a 3-day free trial just to get a feel for how that part of this site works.

Back to the markets. Good Luck Today

RickJ

RickJ’s Handicapping Picks

 

 

My guess on the market taking off to the upside this week was spot on. I thought it would happen Monday but I will take Tuesday also. Right not the markets are in the green this morning by about 1/8%.  I would expect a consolidation here or even a pullback.  And remember the “Sell in May” is just a few weeks away.

We are at the beginning of earnings season and the prediction is it’s going to be miserable. When you hear that the best way to view it is as a contrarian. Which means simply the markets rarely do what the majority of the participants think is going to happen. That is why mean reversion is such a good method for short term profits. It takes advantage of “fear and greed” as long as you do not throw caution to the winds.

I was starting to take a look at a potential gap trade this morning if the market opened down but that was only wishful thinking. The gap trade for a short is not near as good this morning % wise. So I will be passing on the gap trade.

I still have on several swing positions and exited some yesterday for nice profits. I will not be as aggressive today as I have been the last few days but there are several stocks that if the setup is right I will take a short term trade.

If you wish to follow my trades you can at @rickjswings. It’s free for now and might give you some insight into swing trading. And you can always ask if there is something you would like explained.

We had an interesting day in sports yesterday….with 7 plays resulting in a small gain. But what made it interesting is we won every NBA play easily and lost every MLB play. But more on that later:)

Good Luck Today in the markets

RickJ

RickJ’s Handicapping Picks

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