2024 July 23 EST Realised Day Trade AMD & Unrealised New Swing Overnight NVDA
Long the dip; short the pop.
Trade Recap for 23 July 2024:
Advanced Micro Devices (AMD.US) has significant manipulation as posted before, with a very high spread. Difficult to day trade.
Advanced Micro Devices (AMD.US) has significant manipulation as posted before, with a very high spread. Difficult to day trade.
NVIDIA (NVDA.US) experienced temporary intraday rallies was reversed by Tesla's (TSLA.US) earnings report, as Tesla uses Nvidia chips for its AI driving assistant.
As posted Nvidia - Where is it heading short term? Technical Forecast On 2024 July 16 0750hr EST, my forecast when it was 130+, predicted a rollover short-term. NVDA began rolling over a day after my forecast, hitting 118.23 and even dropping below 117 last week. #precisiontrading
This rolled-over was not solely due to Tesla's earnings report on July 23, 2024 as it happened a week earlier, no surprise there. Insiders selling likely contributed as they cashed out gains. This is not necessarily a bad sign, but it is likely due to profit-taking and market sentiment on the valuation. Market makers took full advantage to wash out retails with shorts. Perhaps insiders have information we don't e..g production or orders fall below expectation will result in fierce selling.
#be-like-water and trade with the flow.
#precisiontrading
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