Daily Trading Recap - 2/4/26
Software bounce
TLDR
Software names were heavy early and under pressure.
Best trade of the day was IGV long off a daily pivot after early selling.
SNDK short finally paid but could have executed better.
Quick fade on MOBX after it failed at pre-market highs.
Trades I Took
Software has been getting hit hard. IGV was gapping down on the day and sold off hard for the first 30 minutes of the open, extending an already stretched move on the daily chart. I had a key daily pivot marked at 82 and waited to see how price would react in that range.
After hitting 82, IGV put in a classic “right side of the V” turn, breaking trend and reclaiming back above that level. Volume started to come in, so I got long at 82.08 with a stop at the low. The bounce played out exactly as planned, and I scaled out over VWAP and then more at hod with a tight trail. Easily the best trade of the day and one of those rare ones that feels clean from entry to exit. Decided to take some calls into the close in case the software bottom is in.
SNDK set up as a daily bar break short. The idea was right, but my execution could have been better. I kept assuming every small bounce was the start of a larger reversal, which led me to cover too aggressively instead of letting the trade work. Still a valid setup, just a reminder to trust the broader context instead of reacting to every minor uptick. In hindsight, MU would have been the better candidate for this memory fade.
I don’t normally trade sub $1 stocks but MOBX was a momentum name that pushed into pre-market highs and then clearly failed. Once it stuffed at that level, the trade idea was simple: short the failure and look for a quick liquidity wash as late buyers bailed. I took the short after the rejection and covered into the flush. Nice wallet padder.
Swings and Other Notable Mentions
Big breakdown in the Q’s led to weakness across the board, especially in speculative AI names. Both IREN and HUT stop losses got hit in the crossfire.
Current holdings: GEVX
Takeaways
Patience was the real win today. I spent most of the morning waiting for trades to come to my levels instead of hunting for action. When the right setup finally showed up in IGV, I was clear-headed and ready to execute. Fewer trades, better execution, and trust the plan once you’re in. Tomorrow, the focus stays the same. Let price come to me.