$Direxion Daily NVDA Bull 2X Shares (NVDU.US)$ we've reached...
$Direxion Daily NVDA Bull 2X Shares (NVDU.US)$ we've reached an impasse in Nvidia. it's fully recovered within its Bollinger bands it went from an extreme oversold position now it has reached a point where one would anticipate a sell-off of nothing less than profit taking. it could break out it could continue because it's going into earnings next week and there's going to be people repositioning who sold in video that didn't buy at this entire time that it has rallied and they have to have a position going into earnings because the fear is if they are wrong at the end of the quarter they're going to be buying a video a lot higher to show their shareholders that it's representative of the top 10 holding in the portfolio. all that said near-term the trend should be down towards the 20-day moving average. you can clearly see the two other times we reach the upper moving average the yellow line exactly what transpired rounds of profit taking led by a myriad of factors and it doesn't matter what the underlying reason is for it to fall this is why Bollinger bands are at the top of my list of a technical indicator to get a good picture of overbought oversold.
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35+ yrs in the trenches, raised tens of millions for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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10baggerbamm OP : so cue ball cramer, who refuses to take a stance on Nvidia. with his bullshit you know what I say own it don't trade It which means you bought it wrote it up wrote it all the way back down and now he's saying well it looks like a double top to me and you know how far it fell last time. but he doesn't tell you to buy puts in head she doesn't tell you to sell half your position because he's useless. if there is a delay in Blackwell this stock is going to go down 30% because they will have to restate earnings going forward to be lower than expectations. one would think somebody with all of his experience or any of these other bobbleheads on TV would come out and make a statement telling people hedge your position by puts if you choose to hold it through the conference call number one number two sell half of your position because if there's any guidance lower it's going to get butchered, and then you can buy back at a lower price with the half that you sold. but nobody on TV wants to take a firm position on this company. I'm the only one telling you buy out of the money puts