Fear & Despair

It was another "fun" day at the trading desk as we gave up most of this week's bounce and returned back to those Monday lows.

I've seen my fair share of nasty markets, but this one has to be right up there with the best. Fear, frustration, confusion, and despair are running rampant and I'm working over time to stay one step ahead of the declines and trying my best to get one step ahead of this beast. The market seems to be trying to price in a full blown recession and that along with some forced selling by the hedge fund crowd is really making things tough.

Needless to say, I've been taking my lumps this week (i.e. getting stopped out early and often), but I'm still staying upbeat and opportunistic which is all you can do in this environment. The other way (stick your head in sand, throw in the towel, get bearish amid all of the fear) doesn't look like the most difficult trade.

In the end, I frequently remind myself that I've been here before, and as long as I keep the downside risk in check, protect capital, and keep plugging away I'll be positioned right when it matters most. No, this is never easy, but making money rarely is in the market. We've all forgotten that these past few years, and this has been a tough reminder for some, but we'll make it. Keep that chin up and stay focused! Better days are ahead.