Monday, November 07, 2005

Tracking Expenses

I'm entering my third month of tracking my expenses (as long as the rest of the financial stuff) and I'm going to change my tracking method a bit. When I first started I decided to just keep a list of expenses, but without any descriptions. Then, after the month had passed, I found myself wondering "I don't remembering spending all that money, where did it go?" so starting with this month I'm going to track expenses and keep a description. I think it will work out better this way when I see that I spent $25 last week on lunches at work (I took my own today).

The markets have been rebounding a bit lately, and I'm hearing more talk about an upbeat fourth quarter. I'll definitely be happy with that and I can't wait for December to come around. I think I will be able to use that month to actually look into more stocks. Things still seem shaky; people want to believe a late year rebound is on the way, but then they are hesistant as well. I've been reading more technical analysis reports that we subscribe to, and they are back-and-forth as well. One week some of the indicators turn positive, but some remain negative. The next week things look good followed by a bad week.

Technical Analysis update: I think I'm doing pretty well with picking short-term longs (earlier I did mention that I would post the picks with prices but then I don't want to get into any trouble with compliance reasons if the firm actually buys/shorts any of the picks).
I can say that my long position has gained about 5.2% in five days. I'm happy with that number, but I'm more aware of the percentage of winners (84%).
On the short side I'm having a little trouble. My short list is positive, but not by much. I think my problem is, is that I focus on stocks that I think are way overbought (based on RSI and MACD), but they have yet to break down. I keep thinking "this is bound to drop back a bit", but they continue to show strength. I think I need to focus on stocks that have already started to break down.
More on this later...

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