We held a 10,000 share position in ANTH long from 3/12 at $3.51 and sold this position within the first hour of trading at $3.78 for a 31% profit on capital exposed. Shortly into the second hour, the stock made a second push though to $3.96 which we missed. We will be watching for defined entry points throughout this mornings session.
We also held a 10,000 share position of TZYM at $2.90 which we sold during the first hour at $3.29 for a 54% profit on capital exposed. TZYM fell off hits high of $3.30 to a trading range of $2.90 - $3.00. Volume is light but we will keep it on our watch-list for the morning.
On a combined capital exposure of $16,025.00 we grossed $6,600.00 or 41% internally.
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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. For this trade, we implemented a leverage ratio of 4:1.
