NVIDIA selling pressure - market correction inbound

2024年6月30日

The current passive indexes are largely being determined by a small number of tech stocks.

NVIDIA being one of (and occasion the) largest stocks in the sector.

Incredible run for the first half of the year, second half I believe will offer incredible buy areas so long as we don't enter armageddon.

I'm identifying these key areas based on price gaps in the market, my thesis is that the market eventually corrects these gaps and they severe as significant demand areas for institutional investors.

My first target for a small purchase would be just under $100 as highlighted on the chart.

My second target is a deep retracement into the $67-$70 area where I would be entering on much larger size.

If this plays out, we can expect the passive indexes where this is a primary constituent to reverse much of the upside momentum we saw in the first half of the year.

Do not ignore that directors and the CEO of the company are current selling large amount of shares in the company. Market participant complacency of this fact is intriguing to say the least.

2024年6月30日

註釋

Apologies, the second gap fill area is between $69 and $75 which is where I will be investing more heavily.

I currently have no positions and have even converted my old equity portfolio into short and mid-duration bonds on the anticipation of interest cuts on the 31st of July and a reversion to an upward sloping yield curve into next year.

2024年6月30日

註釋

All suggestions above are not to be taken as financial advice, nor should you act on anything written here in isolation of your own due diligence. This is strictly an opinion piece outlining my own personal thoughts and serves as a journal of said ideas.