Wednesday, May 24, 2023

Nvidia: Market Technical Analyst Tim Knight Is Saying Prayers For The Souls Of NVDA Short-Sellers

From Slope of Hope:

NSania

A moment of silence, please for anyone short NVDA (or, God help them, in an naked options position). 

https://slopeofhope.com/wp-content/uploads/2023/05/nvda-1.png

As I have implied, I have no position at all in the company, except inasmuch as I have my SMH puts (September $140, on which I took partial profits today). So, yeah, those are going to get smacked in the nose, but I can deal with it....

....MORE

 Last I saw the stock was up $83, 27% or so.

He also had a comment on the Chinese equity markets, proxied by the ETF: 

China is Failing

Whereas we were looking at the index:

Chinese Investors Have To Be Nervous Tonight