10:30 Update

Sunday we went 1-1 on our MLB Plays. Winning with Houston +158 and losing with Detroit +122.

Today 2 games look good so far to me:

Monday MLB Plays
Phil +188
Miami +143

Early MLB Weightings
919 CLE – C Kluber 2
920 CHC – J Lester
901 NYM – J deGrom
902 PHI – A Morgan 3
909 HOU – S Feldman 1+
910 NYY – N Eovaldi
903 COL – J De La Rosa 1
904 ATL – J Teheran
905 PIT – J Happ
906 MIA – T Koehler 3
917 DET – B Farmer 0+
918 CIN – K Sampson
913 BOS – J Kelly
914 CHW – J Samardzija 0.5
911 BAL – U Jimenez 0
912 KC – K Medlen 0
907 STL – L Lynn
908 ARI – R Ray 1
915 OAK – F Doubront 3
916 SEA – H Iwakuma

If anything else develops I will update.

7:20 Update

We get a very good real time lessons this morning. Do not panic with the rest of the herd!!! Market was down 1000 and now down -425. If you paniced and sold at the bottom you have to have another discipline lesson. If you sold because of margin calls…another lesson never trade on margin. If you lost sleep and were distressed this morning another lesson your trading too high. All in one day!

When everyone around you are losing their minds that the time to keep yours. And most lf the time it pays off. We will see. I put on a number of trades this morning and also 1/2 of the 2nd half of the spy/sso trade at 53.37. Even I could not stick to the plan and put the entire 1/2 of the 2nd trade. Discipline is tough..and thinking straight is even tougher in these conditions. The human element is going to attempt to sabotage you. Might be a good time to re read my required reading section on top of this blog.

Well lets see how today pans out. The worst does not have to be over. Its just a question for me of sticking with the plan.

Well the weekend has not brought a let up in the selling. The market essentially is crashing at the open. Their is no other way to describe it. The Es is off 3.5% and the nasdaq is off almost 5%. That is quite a gap down.

My plan today…….I still have the 2nd half of my spy/sso swing trade. My plan this morning is to cut it in half and put on 400 shares of sso shortly after the open. In addition I plan on putting the other half of the three mean reversion stock trades on shortly after the open. Finally my plan is to put on another swing mean reversion trade shortly after the open. We have no breakout trades so no stops to take this morning.

I said this was a blip compared to 2008 if this continues this week I will take it all back:) On the bright side if your disciplined enough to get through times like this the rest is easy! Your looking at when its difficult.

I will update a bit later.

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RickJ
Rickjshandicappingpicks.com
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