Trump Tweets, Oil Drops, and a Lesson in Patience
Daily Trading Recap - 3/23/26
TLDR
Nailed the USO short off the oil unwind, traded it well early
Passed on UGRO early setup, then forced bad shorts late
Gave back some gains trying to top tick instead of waiting for confirmation
Trades I Took
USO
Trump/Iran headlines hit around 7am and flipped things fast. Index futures ripped while oil sold off. I got short on the bounce in pre and added at the open. Took profits into the move, re-added on bounces, and caught another flush under pre-market lows.
Left a small runner but got stopped out when it bounced. Re-entered later but cut it when there was no follow through. Good read and execution early.
UGRO
Low float gapper that I was watching for a fade. It double topped early and broke down, but I didn’t take it as it was too close to a daily pivot that held prior.
Later it reclaimed and squeezed hard from 4 to near 7. I missed the long and then tried to short the extension, which was a mistake. Got chopped up taking anticipatory entries without confirmation. Eventually caught some fade but wasn’t worth it.
Big squeeze in afterhours now. Will be on watch tomorrow.
Swings
Current holdings: EQT
Takeaways
Good job sticking with the USO thesis early and taking profits into the move.
UGRO is the bigger lesson. I passed on the clean setup, then got involved late trying to force something that wasn’t there. If I miss the move, just let it go.
For tomorrow: be more disciplined with confirmations, especially late in the day, and avoid trying to top tick strong momentum.
Question for Readers
Ever missed a great trade on one side and tried to force it on the other? How do you keep yourself from chasing?