Daily Trading Recap - 4/17/26
EFOI TQQQ XNDU
TLDR
The Nasdaq had only ever strung together a 12-day winning streak three times in its entire history, with never a 13th, so I came in short via TQQQ expecting a mean reversion. The market made history instead.
XNDU was a thesis carry from yesterday - waited for it to get tight and break under $35, then sized in for a great move all the way to $28.
EFOI was the top gapper where I tried the long side first off the $7 level, then flipped short when it made a lower high.
Trimmed more of the RKLB swing and closed MU/ARM for a small gain, looking to reload on pullbacks.
Trades I Took
TQQQ
The Nasdaq had only ever hit a 12-day winning streak three times in its entire history, and had never once gone 13. I came in short via TQQQ expecting that streak to finally crack, but the market double-bottomed intraday, held higher time frame opening range lows, and just kept grinding. The thesis isn’t dead, just wrong today, and I’ll be watching for the same setup on Monday.
XNDU
I carried a short on XNDU from yesterday and held a small overnight piece, cutting it pre-market when the stock bounced and retested $40. The thesis was still intact, so I waited for it to get tight and resolve, sized in under $35, and got a great move all the way down to $28.
EFOI
EFOI was a D1 gapper up close to 200%, and I tried the long side first off the $7 halt level looking for a continuation squeeze higher, but when it failed and made a lower high off the $8.50s I flipped short. From there I recycled around a core on the way down to $6 and kept trading it short on bounces into the close.
Swings / Watch List
Closed some more of the RKLB swing. Also sold the MU and ARM positions for a small gain and will look to re-enter on a pullback if the setup is there.
Current holdings: RKLB WULF
Tomorrow’s Focus
Monday, watch the market closely for the mean reversion that didn’t come today, since the thesis is still valid even if the timing was off.
Thanks for reading!