2026-02-23 · 3 min read
A qualitative run-through of every trade from 2026-02-23: setups, thought process, and outcomes.
It was a challenging day on the desk, starting with NCI. I took a washout long at 6.56 after the stock sharply dropped, expecting a potential reversal. My initial read was that it had overextended to the downside, and I thought I could catch a bounce. Unfortunately, it didn't play out as planned, and I ended up cutting it for a loss, with my best exit at 5.97 and average exit at 5.88. The tape showed some weakness; sellers were aggressive, and I didn’t see the buying support I was hoping for.
Shortly after, I flipped to the short side on NCI at 5.24. This trade felt cleaner. I was looking for a scalp as the stock continued to show weakness below key levels. I was able to exit at an average of 3.92, with the best exit at 3.61. The tape confirmed my read: sellers were staying heavy, and the stock continued to drift lower. It was nice to see that follow-through after my earlier misstep.
Moving into the afternoon, I looked at SGN, where I made two trades. My first entry was at 0.7838, attempting a scalp. I was hoping to catch a quick move but quickly realized it wasn’t gaining traction. I exited at an average of 0.7603, with my best exit at 0.7616. The stock was choppy, and I could see the bids were not holding up, indicating a lack of buying interest.
Later on, I tried again with SGN, this time entering at 0.8363. I thought the price action might consolidate and break out, but it quickly reversed. I exited at an average of 0.8101 and my best exit was at 0.8252. Again, the bids weren’t supportive, and it felt like sellers were quick to step in, pushing the price back down.
Overall, the healthcare sector was active today, particularly with NCI and SGN. Both names had their moments but ultimately reflected the broader volatility in biotech and medical devices. The tape was choppy, and it seemed like there was a lot of rotation happening as traders were quick to take profits or cut losses.
What I did well: I recognized when to switch from long to short on NCI and executed that trade effectively.
What I did poorly: I misjudged the entry on my washout long with NCI and didn’t allow for enough confirmation.
Trading grade: C+ — I had some solid reads but needed better execution and timing.
Tomorrow's another day.
Trade charts
Selected notable trades (by P&L) with time-of-day vs price (entry → exit).
SGN 15:23:14 – 15:27:01 — P&L $-750.86
SGN 13:57:19 – 14:00:05 — P&L $-465.61
NCI 12:50:50 – 12:51:32 — P&L $-284.45
NCI 10:59:04 – 11:22:19 — P&L $+1324.37
NCI 10:47:43 – 10:53:32 — P&L $-1700.47