Week ending 6-5

These last 4 weeks have been nothing short of brutal and yet for some reason my confidence isn't being shaken and instead it's actually rising. The reason is because this is about the worst stretch I can ever remember having, but overall I've basically broke even.

This week though was pretty much a dog fight every day. The repeating scenerio was starting out with losing trades right off the bat and then trying to recoup as much of the losses as possible. Thursday was kind of a break through day though. I came into the day down $1500 for the week. AGEN, a piece of trash biotech, was gapping up for the 4th day in a row and screaming to be shorted. In the past I would have either avoided it for fear of getting caught in a short squeeze or more than likely taken a smallish position so as to insure I would turn a bad week into a horrible week. Instead, I decided to not let the 3 previous days influence me (thankfully I had a little time to think) and I shorted it with some size; by my standards at least. I was risking about $1200 so had it not worked it would have been painful but the setup was every bit what I hope for every day. In the end the trade worked and I covered for a $2500 gain. The lesson I guess is you need to know what a good setup is and be prepared to go for it regardless. That and measuring performance on a daily or even weekly level may be too restrictive to actually produce great results. That one trade really saved my week for being much worse though.

It looks as though we're probably going to be moving to another state in a few months. The move will greatly reduce our expenses plus provide me with a little non trading income. So far, in the 3 months I've been unemployed, between my trading and other investments, I've made almost exactly what I need to stay even. Hopefully the new situation will allow me to start getting ahead since I'll need to make about 3K/mo less it appears.

One weird thing....Even though my life hasn't really changed and I have just as much money as I did 3 months ago I still feel unemployed. I constantly feel like I need to get a job and I have to literally sit down and go over the numbers to convince myself that we're not going backwards and heading towards poverty. This has certainly been some experience thats for sure.

For the week:

Mon (978)
Tue (23)
Wen (503)
Thu +1848
Fri (898)
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Total (554)