NVIDIA Corporation (NASDAQ:NVDA)
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- RichardinME: $NVDA I know Dan covered this last night and felt it would not break the 50 day. But does anyone think having a stop around 115 would be a good idea? My concern is that NVDA could break that level, go to 110 or so and then make a new all time high in a month or two. Would puts be a way to protect a large position or would that be very expensive insurance that would probably not be useful? If the NAS goes down another 2 or 3 percent it seems $NVDA could easily violate 115 but then recover?
- phgruver: @RichardinME $NVDA $NVDA has pretty good support at $119. If it breaks that support, you don't really want to be in it. The 50dma is around $116, so, for a stop, you probably want to give it that much room, say $115.95 or $15.89 (to avoid a round number). As for put protection, it's usually too expensive to be practical. For the Aug16 115 puts, you are looking at $4.20/hundred, with an expected move of $14.73 either way.
- joelsg1: $NVDA Looks like it will be nip and tuck re closing under that $120 strike today, late yesterday while I could still trade, sold a few $122 covered calls.
- DrScience: @RichardinME $NVDA Today is not the day to take on risk. Note that the 50 DMA is 54% above the 200 DMA. Yes, that's a long way to fall if the stock completely falls apart. Take a look at Open Interest in the JUL 19 120 strike. This is where option tr ...
- RichardinME: @DrScience $NVDA This is a core position but still wanna step aside if it breaches support. My cost basis is around 122. I suppose 115 would be a good stop. If it gets hit I can always buy it back. But the points you bring up with the rotation make me think that $NVDA might be a super long-term investment and even if it does catch a bit, there is gonna be a lot of excess supply before it makes a new ATH.
- RichardinME: $NVDA Normally, I would have been out of this but I'm giving it more room like 114...Considering the overall tape, it's holding up ok!
- woodman: @DrScience $NVDA - Great post.
- joelsg1: $NVDA Barring a last-minute rush, looks like this will close below the $120 strike, so my $122 short covered calls should expire worthless. One lesson I'm learning (again) from the Schwab outage today is not to count on being able to adjust options on expiry day.
- joelsg1: @joelsg1 $NVDA $TSLA short upside covered calls too.
- RichardinME: $NVDA Good morning, all. I asked Scott about protecting my $NVDA and he said it should be ok if it stays above the 50 at 115. To me this seems challenging. First 115 is a long way down. Additionally, the 200 is way down at 175. The last thing is that from what I see, NVDA does not seem to be respecting support levels. It sliced through the 20 day like it was not even there. And pre-split it went below 800 and the 50 only to turn around and make new highs. Does anyone that is holding NVDA have any other protection in play besides a stop at 115? Thanks!
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Hawaiianmaxx: @RichardinME $NVDA
1. Your first loss is your best loss.
2. You can't trade hope.
3. Trade what you see not what you want to see
4. Fitz rule #(something) DONT LOSE YOUR DOUGH
5. Take the money and run
These are just a few gems over the years from ... - RichardinME: @traderbren $TSLA and $NVDA doing well for such a down day.
- woodman: $NVDA is below the 8dEMA, but holding the 50d with a little bounce today. This level is also horizontal support for its recent high consolidation since early June. See intraday low of 6/10. Imagintive eyes can make out a head and shoulders as well. Bottom line is that we need it to hold the 50d.
- champ: @woodman $NVDA ....This drop is not really about the stock, its about the tech sector, the $COMPX and if it keeps dropping, even this stock might continue dropping....right now the $COMPX has bounced 100 points off of LOD.....17,768 and if we are looking for reason why a stock might be holding or moving up, that bounce might be the reason why....I'm just saying....and if this drop continues, the odds are, this stock might follow.
- woodman: @champ $NVDA $COMPX - True. It's about rotation.
- champ: @woodman $NVDA $COMPX ....Yes but if we are looking for Entry-timing for stocks in the tech sector, the $COMPX and the $QQQ...and if we were to look at the monthly charts on these.....they don't have Market-timing for Entries on stocks in this sector.
- joelsg1: @woodman $NVDA Selling a chunk, still think it pins below $120 tomorrow.
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StockMarketMentor: ...
Notwithstanding this morning's pullback, we are generally speaking, we are in a really strong market now, with some obvious rotation occurring between the megacappers and the little guys (small cap stocks). This is really healthy price action for b ... - Wolf: @Henry $TSM In retrospect, $TSM is not down much more than $ARM, $AMD or $NVDA.
- kingtug13: $NVDA starter position?
- DavidK: @kingtug13 $NVDA I bought 10 Jan 26 calls this am .
- jonwest88: $INTC chips are going to hell but Intel rises from the pit? $ASML, $AMAT, $NVDA
- joelsg1: @DavidK $NVDA What strike? I'm quite long but hedged with upside calls all over the strikes. Watching 50d to add/reduce shorts.
- DavidK: @joelsg1 $NVDA 126 . I had bought at this strike yesterday as stock was trading around 126 and added this am. Bad trade so far but have some time
- joelsg1: @DavidK $NVDA Like the concept for a stock replacement trade, but perhaps at the $122 level which is $3T mkt cap. But waiting for the 50d at $115.
- DavidK: @joelsg1 $NVDA I am gonna put a stop in and mark this one up as probably really bad trade on my part .
- joelsg1: $NVDA I like the stock replacement trade discussed below so trimmed some shares and watching as we get closer to the 50d at $115 to add Jan. $122 calls incrementally.
- Motorman: @joelsg1 $NVDA Will follow on partial. Looking at chart it can get to 50 day and below as in April.
- Hawaiianmaxx: @joelsg1 $NVDA good idea 💡 Stay green friends
- phgruver: @joelsg1 @DavidK $NVDA The next catalyst will be earnings, but that won't be until Aug. 28, after the bell. I can't predict that it will chop sideways until then, but it won't surprise me if that is what it does. I have some in a LT account, but I'm not trading it.
- RichardinME: @Motorman $NVDA I think that is a Challege with NVDA. This has gone well below the 50 day and still came back. I wish I had sold some at the 50 day and bought back. I think a stop for the 50 would be around 115 with some wiggle room. This is definitely an own stock now as opposed to trading. The challenge I have now is I could set a stop at 115, then watch it go to 120, only to watch it make all time highs again next month. It's not just AI but this is one of the worst days for tech this entire year......
- DrScience: @joelsg1 $NVDA Also look at selling short-term put credit at $102. The low from earnings is at 101.52, and a lot of support levels have to be crossed to reach the top of the gap at 107. But, if bearish tech rotation keeps pushing Nvidia lower and you're looking to maybe acquire stock at the 102-level, a put ratio spread works for low cost and possible expansion. SELL -1 1/2 BACKRATIO NVDA 100 (Weeklys) 26 JUL 24 107/102 PUT @-.03 LMT (that's a negative credit, i.e. a debit --small)
- joelsg1: @DrScience $NVDA Don't like to sell puts generally as a st trade because I believe brokerage sequesters cash from my account to cover.
- joelsg1: $NVDA The Mag 7 have crested the wave of retail call option buys but the market makers writing most of those IMO have every incentive to tank prices going into monthly expiry, which I think is happening today. Therefore, if I'm right, watch for prices to pin Friday just below popular strikes, so for NVDA $120.
- Motorman: @joelsg1 $NVDA Had to read that twice ;) Does that mean sell Calls for this Friday expiry above $120? And keep premium.
- joelsg1: @Motorman $NVDA Wow, that would be super risky and not at all worth it for the $1.70 premium. No, just an observation, no trade other than keep trimming shares and waiting for the $115 level to start buying Jan. calls for stock replacement.
- Motorman: @joelsg1 $NVDA Ok, Thanks.
- joelsg1: @Motorman $NVDA Much rather play for the upside @Dan's $140 and above, but first some pain, down 20% at $112 which I think we hit.
- Motorman: @joelsg1 $NVDA Gotcha. Thanks $NVDA And $SMCI my largest positions.
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DrScience: @joelsg1 $NVDA I understand you're a long call hitter, so I'm feelin' a sports analogy is the way to get my point across.
Like baseball, there are two sides to this stock options game, as well, and the batter doesn't always hit the ball over the fe ... - joelsg1: @Motorman $NVDA $SMCI Ouch today!
- scottrades: My notes: $SPY Just under the 8EMA $QQQ Under the 21 EMA $IWM Needs a rest $DXY Lower Low $TNX Lower Low $TLT Trying to change the trend $XLV Weekly break out $XRT Clear resistance $SMH Watch for support around the 50 Day $XLF Working but extended $IBIT Near the 50 Day $GLD Buy the bounce $BRK.B Safe haven $NVDA Watch the 50 Day $MSFT Bounce near the 50 $WMT Trending up $TGT Above all the MAs $KO Near the 22 highs $KR Watch for a PB $ALC Watch 92.65 $PRCT Trending up $TSLA Earnings next week $GM Earnings next week
- joelsg1: @DrScience $NVDA Understand but old habits die hard. I have sold way under the market lt puts as an income producing hedge, like a ton $TSLA $75s when stock was much higher than strike which finally expired last month, but your comments and strategy provide good food for thought and much appreciated. Don't think $NVDA drops below 110 however.
- woodman: @phgruver $MU $SMH - Within the sector, I'm still in $NVDA and $ARM.
- RichardinME: $NVDA ATH was about a month ago when Nas was about 1000 points lower.
- indigo1948: @woodman $MU $SMH $NVDA $ARM - ditto - also jettisoned $MU this morning.
- Auto: $NVDA added 5min long daily
- RichardinME: $NVDA, $MU. Seems like the rotation is continuing out of tech. Lots of money is going to crypto today but not liking these two guys down today even on a positive tape tape.
- woodman: @RichardinME $NVDA $MU -re Big Tech, I gave up on $DELL with a small gain, but I'm still holding $NVDA (long term mentality with this one and is fine still in a wedge/weekly pennant) and $ARM (continues to stay top BB complex) and, for the time being, $MU as it treads the 50d. MU is more concerning, though.
- Motorman: @Aibistin-1 $SMCI Its been behaving. Yesterday went to 20day and had support, down only 1% or so while $NVDA down 5%.
- bigbartabs: $NVDA $NVDL ... nice spot to start a new posiition... just above the 8dema
- RichardinME: @Henry $NVDA 200 by the end of the year should be the bear case:)
- Cjauger: @woodman $MU I have $ARM it held up so much better than $NVDA through the last 2 weeks and $NVDL
- woodman: @Cjauger $MU - Yes, I'm in MU. Also in $NVDA $ARM and $DELL.
- rem2088: We may be at a top soon. Two random "middle aged" guys near me at the bar talking about stocks and what not. The one asking the other if they're in $NVDA but not knowing how to even pronounce it.... we could be near lol
- Motorman: @rem2088 $NVDA There is a short instrument for that ;)
- billyzeke: @Cjauger $NVDA Beth Kindig has said NVDA will hit 10 trillion by 2030 or sooner, she has been all over this stock for years. https://www.forbes.com/sites/bethkindig/2024/06/07/prediction-nvidia-stock-will-reach-10-trillion-market-cap-by-2030/ On a side note, she recently said in an interview that she thinks AMD is poised to make even higher percentage gains than NVDA by 2030. There is a higher risk, higher reward with AMD she said.
- Wolf: $NVDA reduced an XL position a little PM @ 37. Getting very close to that all time high. Will look at come out of the money calls if the trend holds.
- bigbartabs: @woodman $NVDA ... I bought back in 7/3 using $NVDL. So far so good.
- djgustoso: $META $NVDA $MSFT $AMZN all unexpectedly weak today (to me at least)... Watching...
- Onthemark: @djgustoso $META $NVDA $MSFT $AMZN A little rotating to those showing better action today.
- Nepenthe: @bigbartabs $MU After the news this morning, all my big tech and semi's are down: $AMZN, $MSFT, $GOOGL, and $NVDA. Don't know what that portends but if it weren't for $LABU and $TNA, it'd be a bit of an ugly beginning. Only wish I had more in both of those. Stay cool and vigilant. Cheers.
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StockMarketMentor: ...
$NVDA/$NVDL -- Pulling back on volume today but still in congestion. I like this price action because we are seeing ongoing consolidation on light volume. The light volume indicates a lack of persistent selling pressure and instead just some " ... -
StockMarketMentor: ...
What I did not anticipate was that Nvidia ($NVDA) would account for more than 33% of those gains, So, this 17% move is not really indicative of a strong economy and stellar earnings. Rather, it's a reflection of just a few outperfers ( think, " ... - bill52: @StockMarketMentor $NVDA great observations Dan. I was just reading an article this morning that the chief investment strategist at Piper Sandler has dropped his use of the S&P 500 index as he believes the bias of its performance limited to just a small minority of stocks has made not a reliable overall indicator "of the market". Here's the article link for anyone interested: https://finance.yahoo.com/news/top-wall-street-strategist-explains-why-hes-abandoning-an-sp-500-target-203413713.html?.tsrc=372&ncid=crm_-1329598-20240710-1&bt_user_id=bmEAAsxCh67fhegb0hO3jbrIuipReyhCaZmeXOIqjr2PeOxfQrjR6Mr8JYNmx6GNFMqy2BZCuT6MO5RcD1HkWMjyPs2vUxrYCW0OQ6S5XuuyuoHEwaIE%2BuCPZfXfG3vG&bt_ts=1720605635354
- djgustoso: $TSM reported 40% revenue growth year over year. Kind of confused as to why they reported revenue before earnings next week, but the market seems to like it. $NVDA obviously trading up in sympathy, giddy up!
- dgrobo: @djgustoso $CAVA Gotta sell something to free up money to buy more $NVDA $TSM. I don't know why... but right down to 50 ma. these hedgies play games. probably shorting it so they can buy back after earnings?
- bigbartabs: $NVDA ... taking off again
- Onthemark: @bigbartabs $NVDA Looks good, still holding my core position
- bigbartabs: @Onthemark $NVDA ... same here with $NVDL
- SophAgogo: Long time SMM peep , thought I should share long $RIVN $INSM $EVR $NVDA $META
- Onthemark:
- Onthemark: @Onthemark $RIVN $INSM $EVR $NVDA $META Thanks for sharing. Would add $LLY, $SPRY, and $LABU
- SophAgogo: @Onthemark $RIVN $INSM $EVR $NVDA $META $LLY $SPRY $LABU Good call on LLY ... I had hopped out of $NVO ... trying to figure out whether $LABU will break out, it's been a painful position in the past
- Cjauger: $NVDA https://finance.yahoo.com/news/why-nvidia-could-be-headed-for-a-seismic-moment-another-3-trillion-in-market-cap-133122970.html
- woodman: @Cjauger $NVDA - Well, that may put yet another spring it NVDA's step tomorrow (depending on economic news). Just when I thought I shouldn't buy any more NVDA for fear of being over my skis....
- StockMarketMentor: Good morning Team! Futures are up following some nice moves in the chips yesterday. $NVDA is testing yesterday's high in the premarket, we’re also seeing some positive follow through on $INTC. $AMD is down slightly this morning but along with $ ...
- champ: $NVDA...HOD....but expect zig-zags all day long...was Upgraded this morning.
- woodman: $NVDA $ARM - continuation.
- djgustoso: @Motorman $SMCI looks like all the semis got hit. $SMH and $NVDA charts look the same... Hopefully a small sell program that's done. In the grand scheme it's not that big of a move percentage wise
- Motorman: @djgustoso $SMCI $SMH $NVDA Yes, I bought some for a trade.
- phgruver: @djgustoso $SMCI $SMH $NVDA That's why @Dan tells us to lock in profits, when we have them (yesterday's training session). I sold my $SMH calls this morning (still holding $SMH stock from much lower) to do just that. Now I wait for $SMH to pull back a bit more to add back....
- scottrades: My notes: $SPY Lowest volume of the year $QQQ Extended $IWM Tightening up $DXY At the 50 Day $SMH Above the MAs $XLK Still in trend $XLF Lots of Financial earnings next week $XLE At the 200 Day $URA Watch 30 $GLD Above the MAs $GDX Above the MAs $TSLA Near December resistance $AMZN In an uptrend, Bezos Sold more today - 862m $NVDA Above the MAs $SMCI Higher Low $AMD Inside Day $ARM Above the MAs $AMAT New ATH $LRCX Earnings July 24 $IBKR Earnings Next week $SCHW Mentioned in the forum, Earnings Next week $TTD Trending, good volume $PLTR Near the Yearly High $HOOD Support at the 21 EMA $TWST Flag
- woodman: $NVDA $TSM - they've got the moves like Jagger.
- Bert953: @DAN thanks Dan, I've gone fairly flat too. Closed my options in $GOOGL and just have 1 share in stocks I want to keep an eye on $AMZN $META $NVDA. I did open back $AVGO but just 2 shares with a tight stop below friday's low since I'm heading out now so I wont be around for a few hours. I did notice that the Chalkin money flow indicator is going south on many of the stocks I watch, even if price is still in the upper right. Just sayin'
- joelsg1: $TSLA $NVDA The teeter-totter continues as posted last week, but now it's intraday and even on the 10 min. Always amazes me that when the Street (i.e. programmed bots) find a pattern they pile in until it don't work no more. BTW, remember when $NIO was supposed to be the $TSLA killer? Not so much and their CFO resigned abruptly today.
- bigbartabs: @Henry $META $ARM $AMZN $GOOGL $AVGO ... same with $NVDA
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StockMarketMentor: ...
$NVDA -- Still in a squeezing pattern that is probably going to persist for a while longer. Earnings are not due until late August (Nvidia always reports late), so I don't anticipate any fireworks prior to that date.
$NVDL -- Double your fun on ... - RichardinME: Good morning.....long $MSTR, $COIN, $IBIT, $NVDA. Been a painful couple of weeks as I should have rotated to things that are working.
- wijimmy: $NVDA, $AVGO .....PELOSI.. is back on the Trading Desk on 6/24,26 disclosed 7/2 She just bought ~$5M of Broadcom $AVGO and another $1.2M of Nvidia $NVDA She also sold ~$500K of Tesla and ~$536K of Visa $V... and .. SOMEHOW....Despite Restrictions, Nvidia Chips Are Still Reaching China: WSJ
- kenb: @wijimmy $NVDA $AVGO $V glad $AVGO is going up, though I didn't think Pelosi is a savvy trader to follow, but happy she picked my stock.
- billyzeke: @wijimmy $NVDA $AVGO This is good news, I own both.
- joelsg1: $TSLA Now only 10% from Dec. high at $265, small trim, could pull back to about $220 declining tops line from 1 year ago once FOMO abates. Still quite long. BTW, could it be that $NVDA and $TSLA (my 2 largest pos.) are on a teeter-totter, taking turns leading this bad breadth market higher?
- bb_b: $NVDA turning positive
- traderbren: @bb_b $NVDA - long from below, but would like to see it clear 125.35
- Onthemark: @traderbren $NVDA Now at 126. I would like it to clear 128.12
- Cjauger: $NVDA. breaking out on the hourly chart
- djgustoso: @Cjauger $NVDA all aboard!! $Smci moving too!
- Cjauger: @djgustoso $NVDA $Smci Yes
- Cjauger: @djgustoso $NVDA $Smci I am cautious with $SMCI it is very volatile.I am watching my position sizing
| Stock Price | $136.93 |
| Change | 0.89% |
| Volume | 305,493,000 |
NVIDIA Corporation is engaged in creating the graphics chips used in personal computers that bring games and home movies to life. Its has two reporting segments: the GPU business and the Tegra Processor business.
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