Is this the pullback everyone has been predicting???

2:10 Update

Sunday we went 0-3 In MLB all 1 unit plays.  San Diego +133 lost 5-8 Baltimore +127 lost 1-6 and Cinci +151 lost 0-9. A stellar day:)

We are about unchanged now for the month but we have a week to go so who knows where the first month will end up.

Tonight we have a full slate of baseball with nothing starting before 4. I will send out plays shortly before game times.

Not much to add as I have been pretty busy in the markets today. The rally towards the close bodes well for the blast to the upside I am thinking will occur this week. Then we hit the first of may and the trading environment turns into something different altogether.

Good Luck Tonight


RickJ’s Handicapping Picks

On a bright Monday morning, the market is off about 1/2 % . Let me start out by saying my opinion is this pullback is buyable for another blast to the upside. The timing, of course, is everything and will not be easy especially if you have tight stops.

So what to do? I tried a day trade in IBB this morning that had no chance and took a small loss. I also put on a mean reversion trade in spy and a swing trade. So I am actively playing for the blast to the upside.

I am going to be patient on this but not too patient as we are rapidly approaching May 1st. The tailwind will no longer be with the market come  may 1 so one will have to view trading a bit differently.

As usual, there are a lot of mixed signals in this market. The one signal that bears watching is the Vix/Xiv ratio. It’s at an extremely low level which almost always means a pullback in the short-term. I suspect this ratio has risen this morning and I will take a look at it later this morning after things have settled down. But in the short run that is the only variable that says caution for bulls. Intermediate there are also several caution signals…..Nasdaq has now pulled behind SP 500 on a weekly basis and liquidity the next week or two will be on the light side by the fed.

So all in all…a bounce this week or time to re-evaluate. The sentiment is still in the bulls favor. Which most likely outweighs all other variables.

And of course, this week is FMOC week with the fed reporting on its policy Wednesday at 11:00. So if we get a sell off into the Fed meeting that will create an opportunity to buy the news Wednesday morning. But that according to Al McGuire is an eternity:)

Enough rambling this morning as I am getting a sense that I will have more trades today.

Good Luck Today


RickJ’s Handicapping Picks


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