Short

Updated

$NVDA is headed back to $80s

It was a fun run for NVDA but it looks to be coming to an end.

We've reached max stupid in the stock market and the correction is about to be painful. Not sure what's going to cause this type of a move, maybe SMCI news ends up being a bigger deal in earnings than what was initially let on, maybe people finally realize the hype cycle in AI is way ahead of where the tech is, or maybe, people just realize the company is way overvalued.

Whatever happens during earnings, looks like the same outcome. Price is going to trade back in the 80s. This is likely the top.

Hoping we see a move back to $145 on Monday to enter some puts.

Let's see how it plays out over the coming weeks. looks horrible too. Will likely do a chart on that next.

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Bought 40 12/20 $100P

Trade active

Added 60 more this morning

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Timing was off but I can see it make a new low by early Jan. Puts out to Jan/Feb are good here.

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Bought $135P for 1/17

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Took profit +500%. Might reopen a position tomorrow depending on how things trade.

If I did, I'd likely buy the $125P for Friday.

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Bought 30 $136P for 1/31 at open

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Sold half at +140% letting the rest ride

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Ended up selling the second half on that spike down bc I was over 200%. Think theres a megaphone top forming and if it does, price could see $149 or so again before falling further.

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Kicking myself for selling the rest too early. Oh well, will likely buy calls today for one more move up before the real selloff.

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Still not time to buy calls. Think there's downside to $106-112 still.

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Okay started buying calls on the spike down this morning 2/7 146C

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If we get up to $130 today, want to start taking some profits there. Think there's risk of a downside move before FOMC, will use any pullbacks to add to this position.

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If I had to guess, we top on Monday - Wednesday and continue lower to the target on the chart.

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Good spot to go short NVDA again.

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Welp that didn't work this time. I think there's a possibility that NVDA could retest the top of the flag before falling to the target. Level would be around $155. I took calls right before close just incase it does. A close over $135 (which we got today, should be very bullish).

If it hits that level, that would be the best r/r for a short.

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I'm out of all of my calls. The overall market is starting to turn bearish. Price would need to make it over $143 for a continuation higher, below there and the chart is valid in terms of downside targets.

benjihyam

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benjihyam

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