Daily Trading Recap - 3/16/26
USO QBTS WNW
TLDR
Nice and easy Monday morning. Most gappers didn’t fit my setups so I stayed patient.
Small pre-market win shorting USO on oil weakness.
First attempt shorting WNW failed, but the second entry caught a huge fade from ~$13 to ~$2.50.
Trades I Took
USO
Oil gapped down overnight and sold off into the open. I took a small short in USO during pre-market looking for continuation into yesterday’s lows and covered into that level. Couple more small trades on it.
WNW
Insane liquidation move. WNW had been grinding higher all morning, running from around $2 to nearly $10 and eventually speeding up and squeezing over $13.
My first short attempt using a faster signal got stopped out. I waited for a clearer turn and got short again once it started failing over $13. Lowest covers were $2.50. Big round-trip fade.
QBTS
I also tried a short in QBTS looking for a daily breakdown, risking $17.70. The level held and it started bouncing, so I took the trade off at breakeven.
Other Stocks In Play
HCWB and CTMX were the main pre-market gappers but neither really fit my short setups. HCWB was doing huge volume over $1, which often makes these harder to fade cleanly. CTMX was trending higher on positive drug news and breaking over a clear level, so I left it alone.
NBIS was also gapping on a major deal with Meta Platforms, but it wasn’t something I traded.
Meanwhile Jensen Huang said at the NVIDIA GTC Conference that NVDA could eventually reach $1T in revenue. The stock spiked on the comment but quickly sold off, which isn’t the best look for sentiment across the AI and data center names.
Swings:
Current holdings: EQT
Takeaways
Good reminder not to force trades on slow Monday mornings. Most of the early setups weren’t great.
The key trade was WNW. I took the first loss probing early, but waiting for the real turn led to the big move. Patience early, aggression once the setup shows up.