Daily Trade Recap - 4/20/26
TQQQ ENVB
TLDR
I leaned short on TQQQ looking for a market pullback after 13 straight green days.
I stayed cautious with the psychedelic names because of the weekend catalyst, but ENVB still showed enough weakness to short.
Good reminder that theme matters, but price action matters more.
Trades I Took
TQQQ
Futures sold off overnight on news out of the strait, but with the market still extended after 13 straight up days, I took a pre-market starter short in TQQQ against Friday’s lower high looking for a simple pullback. Around 10:45, news hit and helped speed up the flush, so I took covers into the drop and trailed the rest for a solid Monday morning trade.
ENVB
ENVB was gapping up 129% on the psychedelic theme after the weekend news, so I came in thinking I would probably avoid forcing shorts in that group. But the price action was weak enough to override the headline, and I was able to stay short and keep recycling it lower into the close.
Swings
Current holdings: RKLB WULF BE
Takeaways
Today was a good reminder to keep the thesis simple and let the chart do the talking. TQQQ was the cleaner higher timeframe idea, and ENVB was a good example of following weakness even when the news looked strong. For tomorrow, the focus is the same: trust price action first and do not force trades just because the theme is active.
Thanks for reading!