I am up 7% today short NVDA at the open. Pure luck as I was going to short yesterday but was annoyed when the market was closed. I would have been stopped out at the open but instead up nice.
I had considered a long at $910 or so to hold over last earnings but wimped out.
Not betting on the ATH being in but the chart looks so stupid at this point. It is hard to not see buying being exhausted here at these prices in the short term with next earnings not until late August.
Stop is moved to +2%. $120 or so I am probably out. I am also out the moment Sora is released.
I don’t think generative AI is revolutionary. I think it’s glorified autocomplete which has no economic purpose beyond a few niche applications and low-value tasks. Certainly nothing to justify the vast investments being undertaken.
