Are we ever going to get a correction in the Markets?

11:15 Update

Monday we only had 1 1/2 unit play on Denver in the NBA and it lost. We have slowed up quite a bit right now going into the start of the baseball season. Once opening day gets here things will pick up with a full schedule of games almost every day for 5 months.

But we still have the final 16 this weekend. And there are a few games that look pretty good at least right now. So should be an exciting weekend.

I have received quite a few questions the last few days about the 5 month 130.00 back guarantee. I think everyone is trying to read more into it then it appears. Its actually very simple. If your a subscriber on opening day then you pass the first requirement. Then if you have been a subscriber from April through the end of August. You pass the 2nd requirement. At the end of august if I am negative for baseball from Opening Day to and including August 31st based upon my plays that are sent out then you receive a 130.00 cash refund.

I am only offering this because baseball has been the toughest in the past for handicapping. However with the changes I made in baseball similar to the changes in the NHL I would anticipate doing much better this season. But we will see:)

Also have received emails regarding the 25.00 for every subscriber referal. The only requirement for this is that you are a subscriber. Thats it.

As always I will send out plays and setups shortly before game times. And If you have any questions please send me an email.

RickJ

RickJ’s Handicapping Picks

After a sizable gap down this morning, the markets have rebounded with the Nasdaq now in the green. I have to say this rally off the lows this year has been spectacular. What even makes it more amazing is very few people were ready for it. Which is typical of the markets. That is why a contrarian approach with caveats does very well.

One of the things I look at in the morning in deciding the balance of the day is the $ADD. Typically when you get and $ADD over 1500 in either direction you have an increased probability of a trend day. Thos are the days you do not want to trade ranges but concentrate toward fading corrective action in favor of the trend.

If there is one rule to abide by the do not fade trend days is not a bad one to have. Nothing is 100% and certainly what appears to be a trend day sometimes reverses. But the path of least resistance is the trend. Keep that in mind if your day trading and it will save you a bundle.

I am short energy, short spy, long a gold stock and that is about it. All are starter positions.

Also, I would be remiss not to mention this. A fed governor was speaking yesterday and we are back to urgent rate hikes immediately. I had to listen to the guy twice. Didn’t the Fed just meet and announce a dovish approach? Honestly, enough is enough from these morons. It’s gotten to the point of complete absurdity. But the good news is the market ignored it. Finally!!!

But it appears that we are going to get a verbal shift now in the fed as I doubt this will be an isolated approach. Just another variable as a trader you have to deal with.

My best guess this week is a mild pullback and then new highs for this move into mid-April. I am looking to get long a few more swing trades if we do get this pullback. If not then it’s manage existing trades and look for a short term day trade here and there.

If you’re interested in following my private twitter feed for trading its free now. Just follow @rickjswings and I will add you.

I tweet from time to time as to my trades and thoughts and am also open to questions regarding handicapping and trading.

Good Luck Today

RickJ

RickJ’s Handicapping Picks

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