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Nvidia Bears Get Wiped Out

Published 05/25/2023, 01:04 AM
Updated 07/09/2023, 06:31 AM

A moment of silence, please, for anyone short NVIDIA (NASDAQ:NVDA) (or, God help them, in a naked options position).

NVDA Stock Chart

As I have implied, I have no position at all in the company, except my SMH puts (September $140, on which I took partial profits today). So, yeah, those are going to get smacked in the nose, but I can deal with it.

What’s interesting is that this one company has unwound ALL of today’s loss and part of yesterday’s as well in a stroke on the /NQ.

Nasdaq Chart

I’ll be the first to admit I was hoping for some kind of shocking wipeout, but success clearly breeds success. The bulls just got yet another lease on life.

Latest comments

What goes up must go down..
it depends on how much up vs how much down, and your time frame, whether you mean long term or short term
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