I smell a correction in the offing…..sooner than later
Extra Large traders and hedge funds sold 1B shares at the open with an approximate 10:1 ratio of sales over buys. And there has been quite a bit of insider selling, albeit at lower prices. No insider buying to speak of as of late.
i absolutely love Nvidia💋. But things have gotten awfully rich awfully fast. Perhaps Im totally wrong ( wouldn’t be the first,second or third time) but Ive had huge upside gains since December. Id like to keep them. Finally, Dan Niles said in an interview with Dan Nathan and mentioned similar points saying hes expecting “approximately” a 25% correction +/- reasonably soon to allow things to reset a bit.
Im perhaps wrong about this,….but Niles made a pretty compelling case for it, and he’s a far better analyst than I. So im out for now.🙏 as Id like to buy the stock back at about $950 or so. Then ill really love Nvidia🌈. But im just not comfortable holding the stock up here.
And recently, as the stock has had any notable upside volume up here, with huge buy orders showing on level 2, They are getting heavily sold into by the extra large contingency. This is a reasonably recent observation. And Im not sure if thats the crowd I want to bet against or fight at the most recent rate of price acceleration into these prices.
its hard not to believe that Nvidia isnt going to try to fill that gap down in the mid $900 range at some point reasonably soon. So for now, I think Ill watch the game play out and wait for pricing to improve to a more reasonable level. Just a thought🌪️
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Wealth Thinkle : Let see may be a week more or 2.
1. Dow Jones added Nvidia not?
2. XLK action done
I am waiting. Expecting 20% discount