I much prefer being a lone wolf when it comes to shorting a crowd favorite momo stock like NVDA so comments like this make me more confident about my position. Either way, here are some additional thoughts on NVDA I just made in reply to another post in the comment section: https://rightsideofthechart.com/swing-trades-nvda-analysis-2-20-24/#comment-30887

As I always say, this isn’t a “follow me” site so DYODD & pass on trades you don’t agree with.

Yes, I addressed that in this post above (2nd paragraph). All the better as the nervous NVDA longs are starting to bail today so as now, depending on what the stock does before the close tmrw, I might be able to book some quick gains and partially or fully close the position before earnings.

However, not only did NVDA break down below that 2024 uptrend line I was highlighting (a sell signal, albeit to be taken with a grain of salt as it occurred just in front of earnings) but I also have SPY, QQQ, & SOXX taken out their key Oct trendlines, at least so far today. Just waiting for last Tuesday’s lows on AMZN, META, SPY, & QQQ to be taken out & that should be the catalyst to really get things moving to the downside (i.e- objective add-on to existing swing shorts).

There’s way too many momo and irrational traders out there, I bet it pops on earnings, no way they miss or say anything negative.

I’d start shorting at 800, and add a little more short each say 1% up after that.