Nothing developed on Sunday. One game looks good today
Monday MLB Play
Early Monday MLB Weightings
953 SD – J Shields
954 PIT – A Burnett 1
951 CIN – A DeSclafani 3
952 WAS – D Fister
963 HOU – D Keuchel 2
964 CLE – C Carrasco
955 STL – J Lackey 0
956 CHC – J Lester 0
969 TOR – M Buehrle 1.5
970 CHW – C Sale
957 ATL – M Wisler 1
958 MIL – K Lohse
967 TB – A Colome 1
968 KC – E Volquez
965 BAL – W Chen
966 MIN – P Hughes 1
959 PHI – S O’Sullivan 0
960 LAD – E Surkamp 0
971 DET – A Simon 0
972 SEA – H Iwakuma 0
961 NYM – J Niese
962 SF – C Heston 1.5
Most likely nothing else today.
My exit this morning was timely as the market is now down 102 pts. I think its too early to go for a swing here especially at noon with the advanceddecline at -1288. Most likely a push lower from here. If it gets out of hand I might consider a swing but most likely will evaluate in the morning.
My swing trades this morning were :
600 XOM at 46.87 sold about 1.5 hrs later at 48.01 for +664
300 Kite at 65.95 sold about 1.5 hrs later at 65.95 for no gain or loss ..just commission of 4.00
600 xlnx at 43.50 sold about 1.5 hrs later at 65.95 for +60.00
These trades are sent out on my private feed
I exited SSO at 65.40 for a small loss
Also I put on 3 swing trades at the open for a 750.00 gain. With 2 trades winning and the other break even
Have not looked at baseball yet but wanted to make some swing trade comments.
Our SPY/SSO is off about 1% as I write this and off .6% this morning. The greek drama continues as the vote in Greece was NO. Ladbrooks has the line on a yes vote 2/7. I considered getting out of the swing on Friday but 2/7 odds of a yes vote was enough for me to take the gamble. So in other words you would have had to lay 7/2 to bet on yes.
It was looking very grim last night as the futures was down 25 to 30 and has come back to -7.50. If your over extended trading right now your going to have some sleepless nights. The trick behind any type of gambling is money management. In other words if you take your worst loss it should only effect you in an academic manner. Rather then hurting you financially. Risk per trade should be similar to sports betting…about 3% of your bankroll or if you want to be conservative 2 to 2.5.
My plan on the swing is right now that if we get a rally to where we are plus on the day I am most likely going to exit the swing trade. But I will make that decision when we get there. Too early to consider the 2nd half of the swing.
“Hi Rick. What about trading with options for your your swing trades especially if your bankroll is small”
The problem with options is 1. Spread between bid and ask is typically high. 2. Commissions are much higher 3. You have to be able to evaluate which options are priced right
I traded options and still do from time to time but have found even though you do not get the leverage trading the underlying issue has been more profitable for me. You just do not go jumping into the options market without having a good understanding of them.
“Thanks for the insights. My trading account is about 50k, any advice on trading size would be great.
On a side note, are there any books you recommend for both sports betting and investing?”
I would first start on paper watching the trades for a few months and see how paper trading goes. Then once your comfortable start out risking 2% per trade. Then once your profitable for several months you could move up to 2.5 or 3% a trade
As far as books there are so many its hard to know which to read. I have some but I would need to put some thought into what I would recommend. Since most are not very good.
“Where do you trade for $2 a trade? Never heard of one that low.”
You need a fairly large account to get this rate >500,000. But there are many brokers where you can cut your costs. All you need to do is do a google search for low cost stock brokers.
I will have baseball a bit later
Private Twitter: Rickjswings ( send me an email for a 2week free trial)