This is a follow up to my Weekly Chart Analysis. Daily TRIX and RSI are maxed out and fluctuating green to red in this major resistance zone. I'm expecting a pull back to $200. My stop is $256 in case we keep going.
Appreciate your work. NVDA is crazy overvalued. Have you re-entered the short? I am currently 92% in Cash, 4% short NVDA and TSLA.
allout06
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@bjorn2z, Im still holding a short at $235.97. There is a massive level at $290. I expect NVDA to fall apart with the indexes in the coming month or so.
bjorn2z
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@allout06, Glad to see you didn't stop out at 256. I am guessing the falling apart should happen next week, FED Day, Full Moon, and one year anniversary of the big drop in 2022 end of April. Sinko de Mayo!!
allout06
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@bjorn2z, Nope, i moved my stop above all time highs. I doubt it goes there.
bjorn2z
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@allout06, I thought of shorting some more at 290 yesterday. Didn't do it. If it reaches 300 or ATH maybe I will short more.
allout06
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@bjorn2z, Probably a good idea. Looks like were having some pullback today.
bjorn2z
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@allout06, :-( I should have shorted more at 290! It was a number you had mentioned and when it came I chickened out. Overall I have 6% short side exposure. 2% long inverse ETFs JDST/FNGD and 4% naked short TSLA/NVDA. I am guessing these 4 positions will move in my favor after Powell speaks this afternoon
allout06
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@bjorn2z, FNGD looks interesting to me. I may have to jump into that one. I have short orders in on FNGU around $113 and $119.
bjorn2z
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@allout06, Oh. If you have short orders for FNGU then no need to be long FNGD. I bought FNGD in an account where I am not allowed to short. In accounts where I can short I will look to short FNGU! Not all levered instruments can be shorted. TQQQ can be shorted. TSLL cannot be. I thought FNGU might be restricted. Thanks for alerting me that FNGU can be shorted.