5:00 P. M update
One game tonight in the NBA:
Betting is 54% on Golden State with the line moving from -7.5-101 to -7.5 -107. Models are neutral and variables slightly favor Golden State. The public betting gives no clues on the game. This game is a toss up as far as the way I look at it. I need much more then a slight edge on the variables to play the game. A clear cut pass for me.
8:00 A.M Update
Sunday we had a great day going 4-0 for +4.285 Units. In the NBA we had a 1/2 unit play on toronto -4.5 and they won 116-89. We also had 3 one unit plays in MLB winning with Texas +156 7-6 , Detroit +152 6-5 and Colorado +129 4-3. We had a situation on Colorado as it was a play from the day before. It went down to +108 before game time and I choose to buy a 1/2 unit back at -117. That is why the results are the way they are. I included that as a loss for the 1/2 unit play.
Lets see if we can continue this today. I did not see anything last night but this morning I sent out a setup that I felt the line would not get any better. Its a light schedule tonight but there are several games I am watching. We will see.
I talked yesterday about a filter I just newly put in. Its too early to tell what effect that has had but after another week or so I can get a better feel about that. I will let you know what conclusion I come to.
Also for those of you thinking about joining us your free to try a 3 day trial by following @rick_sports my private feed where I send out plays from. You can have them delivered about anywhere you wish with twitter.
If you have any questions just sent me an email.
Good Luck Today
RickJ’s Handicapping Pick
Today is a key day for the markets as we are at a level if it breaks then look out below. On the bright side, liquidity is flush until Wednesday which could prop the market up for several days. If not it does not bode well.
Also on the bright side we are approaching actionable oversold levels. I am going to be a bit conservative on this as the window as I see it is only a few days barring some QE news by any major country. You can count that out for now however for the U.S. as even though they are turning dovish it’s not to the extent of telling the world any comforting news. Why do that when you can keep the world on edge:)
Other than the above I do not know what is going to propel the market higher. Although it’s certainly no requirement that I know or even have a clue but considering we are in the middle of May I would not be surprised to see another leg down. After all the next batch of regulations are going to hit the energy industry this week. And it going to be a costly batch with the experts saying that it will have 0 effect except to make it less profitable for U.S. companies to be in the Oil business. The conspiracy theorists propose it’s all being done to help our friends the Saudi’s . Myself I have no idea except that our government is consistent down the line with business stifling regulations. So this is not out of the norm for them.
It’s really amazing to me we are not in a recession yet. Its certainly nothing spectacular as far as a recovery but the U.S. economy has had to withstand quite a bit the last 8 to 10 years. Myself I would be looking for ways to reward the business in our country as opposed making it harder to operate. As that falls down the line into employment. And most likely has a direct correlation as to the number of people not in the workplace thus allowing these unemployment numbers to be so low. It’s all a game.
Enough rambling…I did put on a mean reversion trade long on Friday and it is +.50% premarket. It had to look very good for me to put it on so let’s see how it turns out. I will be cherry picking this week until the longs start jumping off buildings and swearing off the market. Then it might be time to jump back in which probably will coincide with the end of September:)
If you want to follow my trades just follow @rickjswings. It’s free and fun. And has the potential to be profitable!
And by the way, I am in a very good mood today after going 4-0 on my plays Sunday for +4.285 Units!!! More on that later.
Good Luck Today
RickJ’s Handicapping Picks