Daily Trading Recap - 3/5/26
Choppy Battle in GXAI, Clean Breakdown in HYMC
TLDR
GXAI: Main focus of the day. Multiple attempts both short and long in very erratic price action. Finished with a backside short into the close.
HYMC: Best trade. Daily breakdown under $45 led to a clean fade into the $30s.
TPET: Quick reactive short after crude pulled back on Hormuz headlines.
IBRX: Tried the daily breakdown but it never followed through.
Trades I Took
GXAI 0.00%↑
GXAI was the main gapper on my radar, up on a press release about a drone licensing deal through a partially owned defense company. The news looked early stage with no contract details, which often ends up being a setup for dilution.
I started short in premarket and added on the bounce after the open. When volume started pouring in I sized down and adjusted. It looked like the short was going to work but the problem was GXAI didn’t stay weak. It found footing and ripped all the way back to new highs, forcing me to flatten. The price action was extremely erratic.
When it kept holding up I flipped long. It mostly traded in a range and I took a few small cuts building the position. The long finally started to work and I sold some into strength, but it stalled near new highs. I exited and flipped short again once it lost VWAP.
That final short worked better and I was able to cover into the shallow fade into the close. Overall this one was messy. Never gave a clean trend in either direction.
HYMC 0.00%↑
Gold was weak early so I checked HYMC. The daily looked like a double top with a clear breakdown level under $45.
I got short as it started taking out intraday lows and the move accelerated quickly. The stock faded hard and never gave much of a bounce.
I scaled out as it trended and eventually even traded below $40. I initially considered holding this overnight as a swing trade, but after such a big move and once gold started bouncing I closed the rest.
This was the cleanest trade of the day.
IBRX 0.00%↑
IBRX had a daily breakdown setup under $8.80. It basically ticked that level but I still positioned the short looking for continuation.
Instead of expanding lower the stock went sideways and tightened up, so I reduced size. Eventually it pushed enough to stop me out.
TPET 0.00%↑
Oil names were strong all day and the low float names made a huge comeback. I missed the long side earlier, but by the afternoon they were getting extended.
When news hit about China helping allow safe passage through the Strait of Hormuz, crude pulled back sharply. I shorted TPET on the reaction and got quick follow through, locking in the trade quickly.
Swings
Current holdings: BE EQT
Takeaways
GXAI was messy and required a lot of adjustments, flipping between short and long as the stock refused to trend cleanly.
The best trade was HYMC where the daily level was obvious and the breakdown followed through immediately.
Good reminder that the cleanest trades often come from clear higher timeframe levels rather than the noisiest gappers.