Crazy drop today. Loaded up on NVDA

[Cuddles]

I'm a breakout trader so I'm fine with buying near all time highs. Price of a stock increase from $15 to $350 isn't relevant. I'm buying a stock on a short term dip which has outperformed the market YTD and I believe it should continue to outperform around earnings + outlook.

Regarding I don't have a net - I'll be partially short an index but haven't fully decided on nasdaq or dj.

People ARE buying gpu's which is why inventory is very low with long backlogs on common gpu's.

or inventory is low because supply dwindled due to corona

 

[tsznecki]

@maxinger Says you shouldn't buy because the stock ran from 15 to 350. Suppose she thinks SPX should go to 100 because it started in the double digits. What a retard.

 

[BlacknBlue]

or inventory is low because supply dwindled due to corona

I'm assuming you mean there is a low supply due to the manufacturing halt. If you believe there is a shortage of GPU's in May from factories being shut down for a few weeks in Feb then you're entitled to that opinion.

 

[maxinger]

I'm a breakout trader so I'm fine with buying near all time highs. Price of a stock increase from $15 to $350 isn't relevant. I'm buying a stock on a short term dip which has outperformed the market YTD and I believe it should continue to outperform around earnings + outlook.

Regarding I don't have a net - I'll be partially short an index but haven't fully decided on nasdaq or dj.

People ARE buying gpu's which is why inventory is very low with long backlogs on common gpu's.

noted. I thought you were swing trader.

 

[BlacknBlue]

I do that too but there may not be enough swing worthy movement in the stock haha.

 

[deaddog]

I have trailing stops $365-$385 but I'll most likely be out 100% Friday morning regardless of price.

My charts show a close of $352

Where are you in?

 

[BlacknBlue]

$354.95 acb.

 

[Cuddles]

I'm assuming you mean there is a low supply due to the manufacturing halt. If you believe there is a shortage of GPU's in May from factories being shut down for a few weeks in Feb then you're entitled to that opinion.

I could be wrong, maybe everyone locked down went out and got themselves a gaming rig. Maybe cloud gaming by google and others drove up demand.

https://www.thestreet.com/video/nvidia-earnings-what-to-expect

 

[Amun Ra]

I predict sub $330 this week. Maybe even down to $305.

 

[BlacknBlue]

I predict sub $330 this week. Maybe even down to $305.

Ouch up to a 15% drop

I did sell at open today since it looked weak, bought back in at $358.95 with a lighter position.