Don’t you love this Market. Swing traders getting Crushed!!!

8:40 Update

1/2 the games are early today so let me get my update for sports in this morning. Tuesday we went 0-2 on our MLB plays and both were 1/2 unit plays. We lost with Pitt +156 1-7 and Cinci +118 1-3. So the start of may we are off to a 0-5 start and now sit at -1.8 units for the season. We were on the plus side almost 8 units so this downswing has been almost 10 units which for baseball is a walk in the park. (no pun intended).

If you’re managing your wagers per my must read section you should not be concerned a bit. If your not then I expect you’re ready to jump off a bridge and I certainly do not want that to happen. I take these swings in stride as everyone taking these plays should be also. That’s what my years of training have brought me to. But it’s baseball and we will see:) But I have a substantial amount invested in having a winning season so you can rest assured if you have any doubts at all I am very motivated.

Also, I received an email regarding whether the pitchers I list must go for it to be a play. And yes for the game to be action the pitchers I list must start the game.

Looking over the games there should be 1 or 2 early plays.

Good Luck Today

RickJ

RickJ’s Handicapping Picks

 

 

 

If you’re a swing trader my condolences. The markets are crushing both longs and shorts taking out stops every other day. So what is one to do?  There are a few things to lighten your risk. You can cut your position size or you can relax and tighten your requirements a bit. But make no mistake until the index’s get over their 10 days MA whipsaws become problematic, to say the least.

The market now is off .50% and is chopping around the open. My take is we are oversold but not to the degree where you want to dip into the water very heavy with mean reversion trades. I have a few but so far very light on the long side. And remember the headwinds of the last 6 months are behind us.

My approach this week is to tighten up my new trades and manage my existing ones. I have had several whipsaws and they only took 1 day! So time to regroup a bit and be a bit more conservative( not in the political sense!)

Now when you combine this pullback with a pullback in MLB it starts getting disconcerting:)  But that’s the nature of gambling every day. Nothing I have not seen many times before. Actually, I doubt there is very little in the gambling sense I have not seen.

And when you think you have seen it all just consider a poker hand from about a year ago in Omaha 8. The game was a jam up game. No cheap flops turns or rivers. It was a ring game but had more action players than usual. And of course, flopping four kings would generally be a great thing in a game like that. But since your all wanting to get back to the markets or whatever you were doing the end result was A on turn and A on the river which resulted in 4 aces winning the pot. And the player (not my favorite person) took it pretty well. Now you can multiply that story by 100 and you can see that not much is unusual on a day to day basis.  What is unusual is that many gamblers do not appreciate the downside risk. But that is another story.

 

Also, as I am writing this the market is rebounding. Maybe I shouldn’t stop!  I may have one more market update before noon.

Good Luck Today

RickJ

RickJ’s Handicapping Picks

Leave a Comment

Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text. captcha txt
Do NOT follow this link or you will be banned from the site!
Rickj's Handicapping Picks
Assign a menu in the Left Menu options.
Assign a menu in the Right Menu options.