Back to work

There is no sugarcoating it, April has been horrible, my worst month of trading in over a year. I certainly have learned the affects of being short in a bull market, and after hearing people say for months "the market can remain irrational much longer than you can remain solvent", i finally REALLY understand the phrase. The good news is that I am still solvent, the bad news, is that my good Jan., good Feb., and great March have been wiped out by my April losses.

So, I have a lot of work ahead of me to rebuild my account.



One thing I did realize is that I had WAY to many positions in APRIL for me to monitor, I got blown out of positions like COH, GMCR, and PNRA which all proved to be bad, no horrible, trades....

My stance on this market remains bearish. With jobs losses growing, commercial real estate looming, asset depreciation continuing, I still contend the market will at least test the low's, if not violate them. The bank stress test, in my mind, have been a clever way to basically push the pause button on the crumbling market. However, the economy around us continues to deteriorate. That said, I MUST remain open to the fact that the market may go higher before we going lower. And the market may zig and zag - so I must zig and zag with the market rather than fighting it. I fought it in April and ended up bloody....