| | The "Great Nvidia Squeeze" Is Almost Dead
By Don Kaufman | NVDA's 10-for-1 stock split is in motion - traders who held as share at the close yesterday will get nine additional shares at the close today, and come Monday morning, the price will be split-adjusted down from $1200 to $120 or so. | But that's not the big story here, not by a longshot. | The gamma squeeze (essentially market makers gobbling up shares) that helped push the price higher over several sessions now looks to be coming to an end. Today, I'm going to talk about whether NVDA at $120 can still drive the market the way it did at $1200.
That's not just FUD - Nvidia has essentially made up 50% of the S&P 500's returns year-to-date. If it doesn't have the juice to keep doing that… watch out.
We have to look at today's jobs data, too - it absolutely rocked the bond market and the dollar.
(We won't be talking about the 130% gain we bagged in LULU this week, but… if you know, you know) | And of course we'll check the expected move this week and the next. Let's get down to it… | | TheoTrade Daily Chatroom Schedule for Monday, June 10, 2024
9:20 AM to 10:00 AM: I'll call the action at the cash open
10:00 AM to 11:00 AM: Tony Rago takes on NQ, NASDAQ futures
11:00 AM to 12:00 PM: Blake will share his top charts
12:00 PM to 1:00 PM: Prof. Jeff Bierman shows you how to trade
1:00 PM to 2:00 PM: Gianni Di Poce tackles the market
2:00 PM to 3:00 PM: Brandon looks at the week's top performers
3:00 PM to 4:00 PM: Corey Rosenbloom goes after range and trend plays
Professor Bierman Had a (Really) Nice Day
He rang the register (at me) several times on Skype - a 40% profit on his Southern short, and he closed out a one-day short on Walmart and made $150 a contract. This isn't just luck - Bierman has some of the best charts in the industry. | You can sign up to get his free research delivered to your inbox right here.
Blake Young's "Retirement Rocket" Replay Is Up
This was an incredible presentation - Blake showed, in black and white, how easy it is to not only beat the S&P 500 by 100%... but also make an end run around Wall Street's greediest fatcats. If you're preparing to watch this, congratulations - you've paid your last "performance fee." Check out what Blake has to say about securing your own retirement… | Corey Rosenbloom's Bond Play Is Headed the Right Way | | Brandon Chapman Says Lockheed's in Play Right Now | | We'll talk again soon, | | Don Kaufman
Co-Founder, TheoTrade |
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