I'm Looking forward to a volatile trading month. Discipline is going to be key to my success for the month of April.
Well, what started out as a shaky day for us with our "Controlled Bounce" picks, again I quickly moved to a defensive strategy to recoup three (3) stop-losses of almost $5,000.00. I am proud to say that I traded $HEAT today and because of the wide swings I quickly found my rhythm and today was our best IRR performance since inception.
Scroll Down To Update: Closing Report to see how we did today.
Here are the picks we announced yesterday.
MRGE(L) - Reacted Better Then Planned
MITK(L) - Got Stopped out. Flipped sides for a short term profit.
IVN (SL - Did not trade. reset order and did not get filled.
HEAT started down 5% in the pre-market and it looked perfect for quick short and cover. WOW was I wrong! After getting stopped out twice, I finally flipped sides and began to profit on the erratic swings. the differential between the LOD and the HOD was so large that once I found my rhythm the potential for profit became much easier. MITK I got stopped out of early and flipped sides in an attempt to recover my losses from the stop.
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UPDATE: At 10:11am HEAT is testing news highs at $6.97.
Here is our trade blotter for April 4, 2012 for the mid morning of trading.
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(The picks announced below are for information purposes only and not to be construed as investment advice. We DO NOT get paid by third parties to announce our picks. The picks announced are for trading in our portfolio only and not to be used to unjustly influence the market.)
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.This is not an offer to buy or sell securities. This information is used to track the performance of our own portfolio ONLY and is not to be construed as investment advice. Trading involves a high degree of risk and should not be attempted by people that are risk adverse. Don't invest what you can't afford to lose.
