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.
Note
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.
Note
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.
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.Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.