Friday Data: Decide the Direction of the Market‼️ Broadcom Misses Guidance 🥹 Will it impact NVDA? what is your Move?🧐

Tonight 8.30pm data is gonna be the most important data of the year‼️ As it gives the direction whether FED is gonna cut 25 or 50 basis point in the Sept FOMC Meeting‼️ Last Month because of Rising unemployment and weak Non Farm Payroll data that led Nasdaq to bleed at least 3% -4% and followed by the 6% drop on Black Monday🫠 So we have to be aware of this data tonight 😄

What am I doing?🧐

First of all, as you know, I do own $NVIDIA (NVDA.US)$ and $Bitcoin (BTC.CC)$ as my most heavier position and of course I just sold all my $Tesla (TSLA.US)$ to hold more cash to be prepared if there is any flash crash🥺

Secondly, I took the opportunity to short $Broadcom (AVGO.US)$ which I mentioned in my previous post too. The reason is very simple!! Last Earning, be cause of the stock split news which led Broadom to 1800 and then Broadom has never broken 1800 since then and yeaterday was around 151-152 which is 1510-1520 before split, I can’t see any upside from there😢 In other words, NVDA super good earning + Buy Back Share Program also need to drop almost 20% after Earning…I can’t see there is any chance that Broadcom would be better than NVDA😢

✅ Broadcom Earning beats estimates but missed guidance and I won’t be surprised if it drops more than 10-15% if tonight data is bad. Even if it is good, I don’t think it will rise🤣 so worth the bet and that’s why I decided to choose shorting Broadcom as a hedge to my long NVDA😢😢 Few days ago, I shorted Broadcom at 162 and closed my position at 151 and yesterday reopened my short again 🤣

Other than that, I’m shorting $ProShares UltraPro QQQ ETF (TQQQ.US)$ with around 8% profits sitting currently. If tonight data is good, then my short position may back to square but as I said, this is just a short term hedge🤭

‼️Take Note‼️

✅ The purpose of shorting some stocks or indexes at this point is just a hedge..Don’t hold short for long time.

✅ Hold more cash is more solid since SPX500 is close to all time high

✅ When SPX500 is close to all time high, any good news announced- it might already price in! But if any slightly bad news,the market will tank and might collapse 🥹 So not a bad idea to buy some short as a hedge if your long position is too heavy🫥

What is your move??🧐