No Value In The Mega Caps
Mega caps – especially the Mag 7 – have driven the market indexes of late but it’s hard to justify further price increases because the stocks are more than fully valued at this stage. That’s not to say the market…
Big Down Day Kicks Off September, ZS Earnings, Jobs Report Friday, Europeanization Of America
The stock market got smashed to open September after the long Labor Day weekend. The S&P was -2.12% and the NASDAQ -3.26%. Nvidia (NVDA) led the way, dropping almost 10% as news that the DOJ is investigating it for antitrust…
The Implications Of The Reaction To NVDA Earnings
Nvidia (NVDA) reported a terrific quarter after the close Wednesday – but its stock is currently -7% in the after hours. What does it mean? Let’s start with the numbers. Revenue of $30 billion beat guidance and estimates as did…
NVDA CPB: Why I’m Short The One You’re Long And Long The One You Don’t Care About
Two stocks report earnings next week that couldn’t be more different: Nvidia (NVDA) and Campbell Soup (CPB). While the vast majority are long NVDA and don’t care about CPB, I’m long CPB and short NVDA. Why? Everybody knows that if…
NVDA Is Cracking…. The Rest Of The Market Will Follow Shortly
In his article in Saturday’s WSJ (“Nvidia’s Sucess Is The Stock Market’s Problem, Broadly” [SUBSCRIPTION REQUIRED]), James Mackintosh outlined the two things driving stocks: demand for AI chips and concern about the economy and interest rates. The former is pushing…
The Stock Market Is In A Massive Bubble – And It’s Close To Popping
Barron’s ran an important article this weekend titled “There is no Magnficent 7. There’s Simply The Magnificent One” [SUBSCRIPTION REQUIRED]. That Magnicent One – obviously – is Nvidia (NVDA) which is responsible for 1/3 of the S&P’s YTD gain through…
Beneath The Surface Most Stocks Are Struggling
Tuesday was another typical day: QQQ: +0.69% S&P: +0.27% S&P Equal Weight (RSP): -0.41% Small Caps (IWM): -0.34% While the bulls won the day at the index level, beneath the surface most stocks are going down. On the NYSE and…
NVDA $3 Trillion And Other Astounding Metrics
Nvidia (NVDA) became the third US company in history to exceed $3 trillion on Wednesday – after Apple and Microsoft. It is now the second most valuable company in the US market, surpassing Apple and trailing only Microsoft. NVDA has…
Party Like It’s 1999
There is a stock called Nvidia (NVDA). You might have heard of it. It makes the chips that Artificial Intellligence (AI) runs on. It is up nearly 200% over the last year and is close to becoming the world’s most…
The Market Is Breaking Down: S&P: Failed Breakout, NVDA: Exhaustion Bar, CRM: Beneath The Surface Another One Bites The Dust
On Thursday, the S&P closed below 5,250 – the breakout level from March 28. This is what is called a “failed breakout” in classical technical anaylsis. “From failed moves come fast moves”. In other words, we are looking at a…