1/9/26 - Daily Market Recap
Slow Friday but indices close strong!
TLDR
Slow day with messy price action. CRML gapped up on me and never proved real downside. SIDU gave the wash I wanted and I covered the rest of the swing for a solid gain. GP was frustrating but at least produced one decent flush to lock in profits. IREN was looking good in the morning but closed red on the day. Major indices reached unprecedented closing highs.
Trades I Took
I came in already short from yesterday and woke up to it gapping up, which immediately put me on defense. It didn’t breach my original risk until the open, but once regular trading started it stopped me out. Right after that, it hard stuffed lower and pulled me back in for another short that also failed. That second attempt was pure frustration trading.
The bigger issue is that CRML still hasn’t made any meaningful lower low. It keeps looking like it wants to roll over and then just refuses to follow through. At this point, it’s not respecting downside levels the way I need it to, so I’m stepping away from it entirely until it actually proves something.
This one finally did what I was waiting for. Nice gap down and a clean wash under $4. I used that move to cover the rest of my swing short. Nothing aggressive here, just taking the exit when the market finally handed it to me. Clean and simple.
This was a D1 gapper on EV news. This company needs cash, has dilution potential, and history of offerings and warrant inducements so I was focused on short setups if it started to fail.
I took the first signal and got stopped out. I tried again on the next attempt, anticipating another trigger, and that failed quickly as well. At that point it was starting to feel like one of those days where every stop just piles on mentally.
I gave it one last shot on the final trigger. The price action was awful, very similar to FLYX yesterday, just chopping sideways and going nowhere. It came within 1 cent of stopping me out again. I added to a winner on the breakdown, which at least gave me something to work with.
I scaled out into the wash, recovering my earlier losses and locking in profits. Then reshorted some on the bounce. Into the close it perked back up and stopped me out of the rest breakeven. The idea wasn’t terrible, but the environment just wasn’t there for clean continuation.
Swings
Current holdings: BE CHYM IREN RDDT (almost stopped me out but closed above the MA’s)
The S&P500 SPY 0.00%↑ and Russell 2000 IWM 0.00%↑ made new all time highs today and the Nasdaq QQQ 0.00%↑ finished strong, potentially setting up for a big breakout in the coming weeks. Should be a great environment for swing trades.
What I’m Taking Away
This was another day where risk management mattered more than being right. I took several valid-looking signals that just didn’t follow through, which says more about the market than the setups. The big adjustment is disengaging faster from names that keep chopping and draining focus. Going into next week, the priority is patience, fewer attempts until larger confirmation, and leaning harder into the names that are working.
CRML has infinite HP, unreal bid on it lol. Maybe something next week