Is the stock market pullback over? My thoughts

Is the stock market pullback over? My thoughts

Is the pullback over? That is most likely on trader’s minds this morning.

An hour before the open finds us with the index’ positive from 1/10th to 1/4%. Oil is positive, financials, positive, TLT off , QQQ up almost 1/2 %.

To me this looks like a very positive configuration to start the week. I would not be surprising to see a nice rally this week, especially as seasonally, this week tends to be strong historically.

On Thursday I put on a 1/4 position mean reversion trade in SPY. I am hovering around break even on the trade with the gap up this morning. Typically on mean reversion trades you are underwater for awhile. That is why I like to leg into them. As long as you have a good methodology these can be some of the most profitable trades in your bag of tricks.

If you do not have a good methodology they can become a nightmare:) So keep that in mind.

I post most of my mean reversion trades at @rickjswings. Its a free private twitter feed. Occasionally I make some observations in the morning, but lately I have been very active trading. More than the norm right now.

Most of my trades now have been trades that are in and out trades lasting a day or two. These can be very volatile , so proper position sizing is essential. you are going to have losers and winners, but at the end of the day, they appear to have a positive EV.

I only give these trades to subscribers of my sports handicapping service. And then only to those that request them. Not everyone is an active trader. But since I have had my handicapping site up now online for over 15 years, I am always looking to increase value to subscribers, even though the cost of joining the group is ridiculously low:)

Especially if you compare it to other services that charge 4 figures for a season for 1 sport! I will match my results up with any of them. In addition, my goal is to educate. You can see that by reading the “Must read ” section of the site and also the FAQ section.

With March madness here and the NCAA Tournament rapidly approaching now is a great time to join and give us a try. MLB is only weeks away, and it has become a very profitable sport the last two years since I added overnight plays.

Just go to the pay pal menu and pick the subscription of your choice. Most pick the monthly. They all have a 3 day free trial. Plays are sent out via Email, Twitter, Viber and SMS.

My results are very transparent. I update them daily. For historical results from over 3 years ago, you can go to the link on the site. For current and the last 3 years , I update those on Google sheets: https://docs.google.com/spreadsheets/d/10AkTqdb-ikYsN6qaTXTX7w9PgQaW6IvNukLGokgch6M/edit#gid=0

If anyone has any questions, you can contact me via email or via Skype.

Now lets get back to the markets:) On the home front, the political dysfunction is still at a fever pitch. The SC report should be released any day now. The smart money is that it is going to clear the President. And my thinking is the smart money is correct.

Now, will this end the dysfunction? The answer is no. Already the House is getting ready for political warfare. And its going to be bloody as after the SC is gone, I expect a full frontal assault by the white house and the DOJ for the crimes allegedly committed during the last years setting this entire Russia Russia Russia hoax up.

Now I know not everyone agrees with me on this. And of course many do. But the goal here is not to convince anyone of what their opinion should be but only to understand there is more to the story, and you are going to need to know that in order to properly trade.

On the international front its a mixed bag. China talks are moving along, but the tensions are building. India and Pakistan are ready to break out into warfare. Venezuela is a mess, with Russia and Iran scooping in and taking advantage of the chaos. And that is just for starters:)

There really is just too much going on for the human mind to take in. So the best approach is to find some people that are reliable, have integrity, and honest with their opinions. Stay away from the political hacks. They will push you to insanity if you buy into their narrative. If anyone wants a list of solid people to follow for news, just ask.

Always remember, while everyone else is losing their minds, it’s the ones that can keep theirs and retain their objectivity that succeed. This is true not only in all aspects of gambling but in life. Easier said than done, but its one of those things that are essential.

Good Luck Today

RickJ

RickJ’s Handicapping Picks

rickjshandicappingpicks.com/investing

Skype: riccja

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