No Stock Market Crash From Nvidia
The stock market keeps surviving each event the media makes into potential Armageddon. On Wednesday, I wrote about Nvidia and the likelihood for a move outside of $131 and $123. That came in the form of a less than perfectly stellar report and sharp move on heavy volume to the downside. Smart money knew the odds. For now, I think rallies above $121 are selling opportunities.
Super Micro crashed even more. Almost 100% of the AI gains have been wiped away by the market. Late comers get punished. The old adage rings true. Bulls make money. Bears make money. Pigs get slaughtered. Don’t be greedy. No one ever went broke taking profits. Squirrels never starve from harvesting too many acorns.
We moved the middle guy back to Northeastern on Thursday. It look literally 5 minutes as the school employs an army to unload your car as you drive in. Urban school living. Time permitted so we stopped by UCONN on the way back to CT to visit my favorite daughter.
Renee just reminded me that it’s Labor Day weekend. Calendar summer ends today. That’s a bit of a bummer. Friends over tonight. 50th surprise party tomorrow night. Big BBQ on Sunday. Yellow light to play golf. Looking forward to fun this weekend.
On Wednesday we bought levered S&P 500. We sold PCY. On Thursday we bought EZA. We sold ARKK, EPU, RYOCX levered S&P 500, some levered NDX.
