Thursday, August 02, 2007
RAS - what a decline
Here's a daily chart of RAS, a mortgage lending company. What a meltdown. I think DT traded this guy too and I started trading it because of him. I some how lost track of this stock when I made new watch lists.
Next time I see some industry wide problem I will be sure to check out all related stocks in that sector. History often repeats itself. There's got to be some undervalued stocks in this sector right now.
- I have been trading for 5 years. It took close to a year before I became profitable. I find that I am improving gradually each year. My method of choice is scalping. My edge lies in tape reading NYSE stocks and staying on the side of the specialist. That is the method I learned when I started. As I build up my capital I will try new styles and trade new markets. In late 2006 my trading hit a rough patch after the introduction of the NYSE Hybrid system. For most of 2007, I have been on a search for new strategies that would help me adapt to the market.