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re: Is it time to short NVDA ?
Posted on 2/17/24 at 9:02 am to OTIS2
Posted on 2/17/24 at 9:02 am to OTIS2
quote:
Earnings are reported in two weeks…you predicting flat? Can’t see a pullback unless that’s the case.
I am not predicting flat earnings. The earnings are going to be great. The guidance through 2025 is going to be good, too. I am predicting a flat response for the next quarter and then taking off again by the end of the year. I only trimmed 1/2 of a very large position. I still see it as a $1200-$1500 stock in the next 18 months.
Look at SMCI. People are wanting a reasons to crush the high flyers right now. Crushing NVDA will mean keeping it flat to slight consolidation for a brief period before it explodes again IMO.
I moved into SNAP since it is back in a pattern of running up to earnings, falling 30% - 40% after reporting and then running up to earnings again. That has been a cash cow play for this scenario in the last two years and I don’t see NVDA moving 30-40% this quarter.
I could be very wrong about all of this. It was also no tax hit for me to sell as all shares were long term holds. Well, every sell with a gain is a tax hit, but these were all taxed as long term capital gains.
This post was edited on 2/17/24 at 12:49 pm
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