On May 11, I shared an idea with my viewers suggesting that NVDA had the potential to experience a rally. To my surprise, this idea turned out to be incredibly profitable, with the option I recommended yielding a remarkable 2000% return. While I didn't anticipate that one of the largest single rallies in stock market history would occur during the earnings period, it was still a well-timed recommendation.
However, we now find ourselves in a different situation. It appears that the current rally has come to an end, and a retracement toward the 370 region seems likely. This significant peak could mark the completion of a multi-year cycle that began when NVDA was first established as a company. Alternatively, it could be a minor setback before further upward momentum. Regardless, the short-term perspective remains the same: a bearish reversal is expected.
However, we now find ourselves in a different situation. It appears that the current rally has come to an end, and a retracement toward the 370 region seems likely. This significant peak could mark the completion of a multi-year cycle that began when NVDA was first established as a company. Alternatively, it could be a minor setback before further upward momentum. Regardless, the short-term perspective remains the same: a bearish reversal is expected.
Comment:
a small weak rally.
a small weak rally.
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The reversal looks confirmed.
The reversal looks confirmed.
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this is becoming likely.
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it seems the original top that I thought was gonna stick did. This is now the most logical interpretation of price.
it seems the original top that I thought was gonna stick did. This is now the most logical interpretation of price.
Comment:
a developing pattern. should see downward momentum next week. I would recommend taking a look at put debit spreads 392.50/392. trading at .13 a contract at the time of writing could yield a nice return.
a developing pattern. should see downward momentum next week. I would recommend taking a look at put debit spreads 392.50/392. trading at .13 a contract at the time of writing could yield a nice return.
Comment:
I find it intriguing to observe the abundance of cluttered and distasteful charts that manage to rise to the top of NVDA ideas. It's difficult to discern the intended message from these individuals, yet they somehow amass over 1000 likes on their ideas. In contrast, I offer precise option recommendations, and if a trade doesn't go as planned, I promptly update it to reflect the stop loss being hit. This transparent approach provides a clearer understanding of my ideas. Unlike other traders, who choose not to reveal their trades because they are not achieving success.
Comment:
We anticipate a period of market congestion tomorrow, with a strong likelihood of significant downward movement on Wednesday. This forecast is based on the expected remarks from Powell, whose historical statements have consistently caused immediate investor concerns about the future of their investments. It's worth noting that many investors approach their investments not with the goal of growing wealth, but rather as a form of speculative gambling, particularly in risky AI stocks, fueled by dreams of boundless riches in an always-rising market. Unfortunately, this mindset exposes retail traders to substantial risks, as they struggle to grasp the potential of an extended bear market. In light of these circumstances, I recommend traders to closely examine the SPX equal-weighted index, which offers valuable insights into the current market situation.
Comment:
this rally looks like an ABC correction of the larger downward movement. I thought we would go sideways but we got a lot more buyers than I anticipated. Perspective remains the same, 390 is the first target (near the gap). Watch for more downward momentum on open tmr. We should see some power.
Comment:
the count has changed slightly. no difference in our trade. Another short entry setup actually as we sit on .618 of wave 1.
the count has changed slightly. no difference in our trade. Another short entry setup actually as we sit on .618 of wave 1.
Comment:
Comment:
The idea remains the same. Looking for momentum tmr and Friday.
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I'm expecting a dramatic decline on market open tmr.
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this decline should lead us to 390 by Friday. We could range in that case I would likely lose my option.
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I decided to go back to my original count. A 4th wave triangle fits really well here and matches other Tech stocks.
I decided to go back to my original count. A 4th wave triangle fits really well here and matches other Tech stocks.
Comment:
the selling pressure should continue through Friday. I would like to note the possibility of a gap to our target. IF NVDA GAPS TO LOWER 390 LOOK TO GET OUT EARLY BEFORE NVDA SNAPS BACK! This should be the last wave of decline before a correction. NVDA loves to gap.
Comment:
correction is complete here. I was expecting a gap lower but we got a gap higher!
this marks the end of this idea. I was correct in my assumption that the market was gonna pull back but I was wrong on how deep.
correction is complete here. I was expecting a gap lower but we got a gap higher!
this marks the end of this idea. I was correct in my assumption that the market was gonna pull back but I was wrong on how deep.
Trade closed manually:
the option I recommended yielded profits for some of the trade. but is going to expire worthless. I am going to consider this a loss.
I sent this out to my viewers on June 8th. Heres how it went
dont miss out on my next NVDA call!