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| DNDN 2/29/12 Open |
We are still holding our position in DNDN as of today's open. Our short-term target for today is 11.50.(out of our long position at 10:00am on 2/29/2012)
We carried a long position in DNDN on 2/28/2012 and are looking for a "Controlled Bounce" rebound on 2/29/2012.
The following is the individual issues we have identified for trading on 2/28/2012 and executed on 2/29/2012:
2/28/2012 TARGET TRADE
Symbol:DNDN -
Trade:LONG
Entry Price:$10.90
Exit Price:$11.35
Stop Loss:$10.75
2/29/2012 ACTUAL TRADE
Symbol:DNDN -
Trade:LONG
Entry Price:$10.90
Exit Price:$11.50
Stop Loss:$10.75
Pantheon Traders incorporates a short-term trading strategy we coined the “Controlled Bounce”. This strategy is implemented by executing trades in stocks that have seen a market anomaly in their share price. We have found that historically a 25-30% next day reversal is more often than not the norm on a stock that has been the recipient of either a positive or negative percentage change of more than 11% intra-day. In order for this reversal to be confirmed to trade, the individual issue’s volume must exceed 2(x) average trading volume prior to the market close with a stochastic crossover above 20.00. We implement leverage at a ratio of 10:1. The capital exposed for this trade was $10,900.00 which we used to purchase 10,000 shares of DNDN at $10.90 for a total of $109,000.00. We executed our sell order at $11.50 or $115,000.00 which gave us a $6,000.00 profit or 55% on capital exposed.
