WAITING FOR NVIDIA $NVDA STOP HUNTING TO BE EXHAUSTED
Our longer term negative thesis on Nvidia has not changed. The beauty of the ZYX Change Method is that we are able to take advantage of short term wiggles within the longer term context. We exited our prior $NVDA short position with a profit when the trailing stop per the prior post hit at $20.26.
We anticipate tons of stop orders entered by shorts between $22.20 and $23.20. As these stops hit, Nvidia will get more fuel to go up. Further, technicians will be touting breakout as the stock has broken out over the after hours last spike to $22.00. Very short term nimble traders may consider going long and participate in the short squeeze here. … Please click here or the title below to read more.
January 12, 2011