The Markets survived the Fed day! What is Next?

8:00 Update

Wednesday we went 1-1 on 1 unit college hoop plays winning with Holy Cross +2.5 and losing with Tulsa +2. We had 3 1/2 unit plays going 2-1. We won with Montreal +130 in the NHL and also Knicks Under 219.5 in the NBA. We lost with Knicks +15.

Today is going to be a very busy day with the NCAA tournament in full swing starting in an hour. Looking at the games it appears there will be a more than a usual number of plays. That means if your wagering 2% of your sports bankroll you might lower that a bit for multiple games during the same time period or overlap.

As I mentioned this is one of my favorite times of the year for enjoying sports. Betting put aside, what could be more exciting than the NCAA Basketball Tournament.

It’s still not too late to sign up for our plays. The tournament is just starting and with a 30-day subscription you are then in line to qualify for the money back guarantee for baseball.  Once you send in your subscription by pushing the PayPal button just send me an email with your twitter handle and follow @rick_sports.

Finally, there is no 3 day free trial periods during the NCAA Tournament.

Hope to see you on board with us!!!

Good Luck Today

RickJ

RickJ’s Handicapping Picks

Wednesday was Fed day and the markets took off immediately after 11:00. They liked what they heard as the Fed is in retreat. It’s almost as if the Fed is a schizophrenic where you do not know from day to day what personality they are going to display.

An interesting mental exercise is to come up with reasons as to why there is such a big difference between the Fed the first 6 weeks of the year compared to now. Not much has really changed.

My thought is that the Fed decided to Jawbone down the markets as it felt they were getting overblown. They had no intention of the 4 to 6 rate hikes his year but decided to use rhetoric to calm down what they decided was a market to high. Then things got going with a record drop and start of the year, with millions of dollars lost. With many traders going broke along with many senior citizens just trying to beat the 0% interest they are getting at the bank.

Then after 6 weeks after leaving untold amounts of carnage, I am confident political pressure got to them along with the reality of “what have I done” and we get an 180-degree shift.

That’s my take. And I have to mention it is an irresponsible way to run the Fed. They are not there to create volatility but are there to create stability and sanity in the markets. Guess they failed to read that in their job description.

I am flat the market this morning and we are off .25% as I write this. So right now it looks like a small gap down on the open. I am starting to take gap fill trades as I just finished quantifying several systems that are very high percentage systems. I will be posting my gap trades along with all other trades on @rickjswings.

It’s a free private twitter feed for now. Take advantage of it and be sure and ask questions. In addition, my trades are in a spreadsheet similar to what I use for sports wagers. The links are on this page.  100% transparency is what I strive for.

We are a bit overbought right now but that can be corrected rather easily right now with 1 or 2 days consolidation or correction. My guess is we get a bit of a pullback today and tomorrow. But this market is very strong right now and I would not want to try to make money on the short side right now. I will be looking for very short trades similar to what I have been doing the last 3 weeks.

And finally, the NCAA Tournament starts in earnest today. For subscribers, its business as usual with plays sent out 5 to 15 min before game time. I sent both plays yesterday out hours early as I felt there was little chance they would fall out of being a play and there was an excellent chance the line would get worse. And both predictions were accurate. And we went 1-1.

Good Luck Today

Between the Markets and the NCAA Tournament should be a very entertaining day!

RickJ

RickJ’s Handicapping Picks

 

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