One game tonight in MLB:
Betting is 55% on Houston and the line has moved from -108 to -106. Models favor Houston, variables favor New York. I am passing on the game. The weighting would be a 0 0 on the game.
The markets skyrocketed yesterday up 300 pts. This morning about 45 min before the open the markets are off about .35%. The markets are very short term overbought right now and I am positioned to the downside.
There is a lot of room on the downside in the event we get this move so quite a bit of profit available before considering getting out. We are still in a seasonally weak period and below the 200 day MA with the Nasdaq lagging the SP500 on a weekly basis. This is really a very good opportunity on the short side. Best I have seen in awhile. Lets see how it works out:)
Ideally a move down breaking the lows of a month ago with a capitulation. If I get that in a week or two I will be beginning my entry into the market for the next 5 months while also getting more aggressive on my swing trades. Prudence has served me well. I have avoided the carnage most other trades have incurred while making a small amount of money trading. Thats about the best you can hope for considering how the market has been the last two months.
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