10:00 Update

No plays on Monday but today a few games look good to me

Tuesday MLB Plays
Boston +121
Cinci +138

Early MLB Weightings

931 ARI – P Corbin
932 COL – Y Flande 1+
917 TB – D Smyly 0
918 BAL – C Tillman 0
915 CLE – Co Anderson 2+
916 TOR – M Estrada
901 PHI – A Harang 1
902 NYM – J Niese
903 MIA – J Nicolino 0
904 ATL – M BANUELOS 0
919 NYY – M Pineda
920 BOS – R Porcello 3
905 CIN – A DeSclafani 2+
906 CHC – D Haren
907 PIT – G Cole 0
908 MIL – J Nelson 0
925 SEA – R Elias 1
926 HOU – S Feldman
923 DET – J Verlander 0
924 KC – J Cueto 0
921 CHW – C Sale
922 MIN – T Duffey 1
909 WAS – J Ross 1
910 STL – M GONZALES
911 ARI – R De La Rosa
912 COL – K Kendrick 0+
927 LAA – M Shoemaker 0
928 OAK – C MARTIN 0
913 SF – M Bumgarner
914 LAD – Z Greinke 1
929 TEX – Y Gallardo 0
930 SD – A Cashner 0

In the markets the dow is off over 400 points. I have not traded today and most likely will not. Its tempting to put on the first half of my spy/sso trade but I think its still a bit early for that. I do have a swing trade I might put on with a stock that is showing quite a bit of relative strength but I want to wait until close to the close if I do put it on. Today has the potential to be even uglier and if it does no trade to the long side is going to be any good. So its watch and see.

After a tough August for the markets (down about 6%) starting a new month does not appear to be the answer. The market is off over 2% this morning. It looks like the 2 day bounce is over and we are heading for the lows. Much of this is dependent on China and what the fed does in the middle of the month. But so far they are proceeding ahead with interest rate hikes. They committed to these hikes way earlier then they should have and now I imagine they feel they have to maintain credibility. It would be nice if they would just remain quiet until the fed meeting but they want their day in the sun with the media. Its helping to cause havoc in the markets.

How to trade this? Well I tried a small trade yesterday with a stock that was showing quite a bit of relative strength. With the financials up it looked like a reasonable trade but it never had a chance. I exited before the close and took a small loss.

In this environment if you plan on taking a trade you have to be willing to take a loss. If you do not have that capability then you cannot trade. I only say this because I am familiar with human nature. You see a large % of poker players that when they get in the lead they start looking at their watch and trying to figure out when to quit. (The extreme was in a three handed game a player won the first hand and quit)! But when these same players are losing they will not even leave their seat to head to the bathroom. Ive seen these players that quit when ahead after a short time play for days trying to get even. Thats human nature. In poker games they get lucky and the game breaks…in the markets you do not have that stop gap…it ends when you go broke. Which in markets like this can happen very fast.

So today…… I am waiting for mean reversion trading to set in. If the market stays down today over 2% I will most likely start looking tomorrow to start initiating setups. If we get a bounce from the lows then we are back to no mans land and wait. If a few of my indicators trigger I may take a stab at another short term trade today. Thats my plan.

Traders are going broke right and left in this market right now.Do not be one of them! The market has had an unbelievable run to the upside over the last few years…its hard to shift gears but you have to know how to do that. Similar to playing 3 handed and then in 5 min the game fills up. If you do not switch gears you will not like the results.

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: [email protected]

RickJ
Rickjshandicappingpicks.com
twitter: rickjsportplays
Twitter: rickjswingtrade
Private Twitter: Rickjswings ( send me an email for a 2week free trial)

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