Pumping the Breaks on NVDA - A Trade for Bears & Cautious Bulls

May 30, 2024

Posting this a few days delayed from when it was available to subscribers at my new venture - Wall Street Beats. That’s why I sort of stopped writing on here for awhile as we were ramping it up and now it’s been launched for a month. If you are interested in actionable insights and trade ideas on these markets come on over. There is a daily broadcast, an interactive chat with all the pros, and research posted regularly. Link is below.

(www.wallstreetbeats.com)

Sometimes you just have to channel your inner Leonidas & make a stand against the mania like he did vs the Persians in the Battle of Thermopylae.

NVDA still sports a positive 6m skew (25dc - 25dp) even after today. We have seen this type of shenanigans 5x since Q1'21 and 100% of the time there was a 14-24% drawdown that ensued with the one '22 66% drawdown. Without discussing more understand that sometimes you just have…