$NVDA seems to trade into these wonderful double bottoms that morph into cup and handles which in turn end up exploding to new highs.
This stock is a day traders dream as well as the longterm investors honey pot. It runs on a Beta of 2.05 to the S&P, so traders undoubtedly are all in on the IV, and you can see on this weekly chart that $nvda is dead smack in the midst of another cup and handle formation from a double bottom bounce. Yep!
The market is stretched, and I do mean.... s t r e t c h e d ! ! !
Remember, a pull back in the market is inevitable.
This stock is a day traders dream as well as the longterm investors honey pot. It runs on a Beta of 2.05 to the S&P, so traders undoubtedly are all in on the IV, and you can see on this weekly chart that $nvda is dead smack in the midst of another cup and handle formation from a double bottom bounce. Yep!
The market is stretched, and I do mean.... s t r e t c h e d ! ! !
Remember, a pull back in the market is inevitable.
Trade active:
The 2020 handle portion of this formation has now materialized. Entering LEAP calls.
Trade active:
10% gain since long call, DESPITE CRASHING MARKETS
This is what you call being on the right side of the trade!
This is what you call being on the right side of the trade!
Trade active:
I've taken some profits from this trade. The chart performed exactly as I thought would.
Trade active:
$300 strike leap calls bought in December @ $16 now bidding @ $82, this was a monster trade!
Trade closed: target reached:
51% gain the stock since my chart posted, calls bought in DEC @ $16 today bidding @ $90, Sold!
Earnings today. I don't do earnings.
Earnings today. I don't do earnings.
Trade active:
Back in. It's going to go higher!
Trade closed manually:
We are entering bubble BURSTING territory now. All profits taken and trade is closed. See you at the reset!