3:00 Update
Tuesday we went 1-3 on our plays. Winning our College Hoop Play on Mich +2.5 and losing all 3 of our NHL plays. Looks like the NHL is moving back to the mean:) College hoops on the other hand has not produced many plays right now but when they have they have been very solid. This month so far college hoops are 8-3-1!!
There is plenty of college hoops left and the price is right. Just hit the paypal button and join one of the best handicapping services available.
Subscribers I will be putting out plays shortly before game time. Also I have sent out a quick rundown of this weekends NFL Games. If you did not receive that please let me know.
A very strange thing happened on Tuesday. The market gaped up and ended up. That is strange in and of itself these days. But as I pointed out we had Fed Governor risk yesterday. And as advertised he got up and with a big smile said that 4 rate hikes might not be enough this year. Then I watched the charts expecting a quick 100 point drop and nothing happened. Could it possibly be the market is finally on to these nitwits? Just maybe the market has decided enough is enough. I know its only 1 day of reaction to fedspeak but one can only hope:)
Now the ride up yesterday was not without peril. The volatility was extreme again yesterday with the market after being up over 100 points was in the hole but then back up…and down again…and ended up. I get dizzy these days watching the price action. Today again we are gaping up a little more then 1/2% and hour before the open.
What could go wrong today? Fischer could not derail the rally yesterday so the Fed is parading out 2 today:
US-Charles Evans Speaks – 12:00 PM CST
US-Eric Rosengren Speaks – Not sure
My guess..more of the same at least 4 rate hikes. And its anyone’s guess how the market will react. Now if the fed ever waffles the market is going to blast higher. Before Yellen it used to be one of the best setups available. Wait until disaster, get long, wait until Bernanke announced, exit, and repeat. I didn’t keep track of this setup but if your timing was even remotely close to being right it was a 100% trade. Now that gravy train is gone:(
Im off to a rough start to 2016. Unfortunately my decision not to exit my portfolio year end turned out to be the wrong one no matter how it ends up. But I am not a woulda coulda shoulda type of person. It was far from clear cut and my experience is usually its best to stick with the program rather then letting your whims dictate your trading.
So…I am long a small portfolio of stocks along with swing trades both long and short. In addition I have on some mean reversion trades. I noticed this morning one of my mean reversion stock trades is up over 8% pre market. Always a good sight to start the day.
If you want to follow my swing trades just send an invite to RICKJSWINGS for a two week free trial.
For those of you whose trial is running out you can sign up for 24$ a month through Paypal. Just send to my email address: riccja3@gmail.com
Or if your a member of the finest handicapping service available then its only 16$ a month extra. A steal:)
RickJ
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