On March 29th we announced our picks for this mornings session. This watch-list was calculated based on the closing prices on March 29, 2012. This list was compiled by using the closing prices from NASDAQ and the NYSE percentage up and percentage down securities. We then used a MetaStock filter overlay of volume, share price and percentage increase on average daily volume over a 24 hour period.
While ARNA has bee a great stock to trade this week, today, the stock did not seem to have its normal push at the open. We had success trading the stock in this morning pre-market session but only realized small gains in our second long trade of the session. DEER traded as planned but because of an un-confirmed crossover on the 2 min stochastic, I covered my position early at $9.36 instead of $9.28. This was a great trade with one HUGE exception....I totally psyched myself out and ended up not following my simple indicators to confirm before I executed my order. SABA gaped up in the pre-market and therefore I did not get filled at my target price. I went short near the high and covered at the 20 crossover for a nice gain. I am currently waiting for a long entry confirmation.
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ARNA(L) - Did Not Reacted As Planned (Traded in the Pre-Market for a .23 profit)
SABA (L) - Did Not Reacted As Planned (Stock gaped up in the pre-market. I flipped sides and went short and the 80 confirmation crossover on the 2 min stochastic)
GALE (L) - Did Not Reacted As Planned (Traded it in the Pre-Market for .16 profit)
DEER(S) - Reacted As Planned
Here is our trade blotter for March 30, 2012 for the mid morning of trading.
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UPDATE 4:48pm - Here is our closing trade blotter for 3/30/2012. We will be announcing our inception P&L before 6pm EST.
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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.
