It combines all things that are good, bad, or misc. that goes on in someone's life.
Can be used to reference a point of time that sums up their thought at that time: R3 of the Day, R3 of the Month, R3 of the Moment, etc.
R3 of the Week - I hate my job, can't wait to party it up on the weekend!
R3 of the Moment - saw this link on this website and I think it's hilarious <insert link>