NVDA at these prices!?! Yes, please. LONG at 140.15
Updated
You can check my previous NVDA idea to see just exactly how smitten I am with it. Quick summary of that: we are in the early stages of an AI revolution, and NVDA has no serious competitors and they can't make their chips fast enough. I rest my case.
Now those who follow me know I HATE trading stocks near earnings. WAY too much volatility. But NVDA is a stock I will happily make an exception for. Could they disappoint? Sure. But I can't say this loudly enough based on the results of my trading system backtest on NVDA:
THERE IS NO BAD TIME TO BUY NVDA
My system is a perfect 717-0 since NVDA stock began trading. If NVDA has a bad earnings report, I'll just buy more. If you want to know why, go back and check the price levels of every previous "miss" and compare them to where the stock is today. As long as the items in the summary thesis I wrote above stay true, I'm in on a long trade.
I'm just mad that I missed out on the last two times it was on sale because my portfolio was already full. Not this time. Long today at 140.15 and I will keep adding as long as my algo screams "OVERSOLD!" I will be using a different exit strategy than usual, though.
Even with NVDA I'd prefer not to be long at earnings, so I'll use my FPC exit strategy and if it's profitable at the close tomorrow, I'll take my money, thank NVDA profusely, and walk away. There will always be other opportunities and I'm not a greedy man. I'll leave sweating out hoped for earnings moonshots for others. There's plenty of other places I can make money in the market.
Now those who follow me know I HATE trading stocks near earnings. WAY too much volatility. But NVDA is a stock I will happily make an exception for. Could they disappoint? Sure. But I can't say this loudly enough based on the results of my trading system backtest on NVDA:
THERE IS NO BAD TIME TO BUY NVDA
My system is a perfect 717-0 since NVDA stock began trading. If NVDA has a bad earnings report, I'll just buy more. If you want to know why, go back and check the price levels of every previous "miss" and compare them to where the stock is today. As long as the items in the summary thesis I wrote above stay true, I'm in on a long trade.
I'm just mad that I missed out on the last two times it was on sale because my portfolio was already full. Not this time. Long today at 140.15 and I will keep adding as long as my algo screams "OVERSOLD!" I will be using a different exit strategy than usual, though.
Even with NVDA I'd prefer not to be long at earnings, so I'll use my FPC exit strategy and if it's profitable at the close tomorrow, I'll take my money, thank NVDA profusely, and walk away. There will always be other opportunities and I'm not a greedy man. I'll leave sweating out hoped for earnings moonshots for others. There's plenty of other places I can make money in the market.
Note
My apologies for the glitchy chart. I don't know why that happened, but my previous 
NVDA idea has the rest of it if anyone is looking for it.Trade closed: target reached
I will take a 4.89% gain in 1 day EVERY. SINGLE. TIME. No regrets at all closing the position here, and I don't care what the earnings are. Sold at the close for 147.00 Thank you, NVDA. Thank you thank you thank you. And thank you, system. Way to stay perfect! Note
Trade results for my records
Wins 1
Losses 0
Average gain per lot = +4.89%
Average days held = 1
Average gain/lot/day held = +4.89%
Annualized return per lot = 4.89% x 252 = +1232%
I love it when a trade goes EXACTLY the way you hope it would.
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