FINALLY THE FIRST DOWN GRADE ON NVIDIA (NVDA) BY A TIER ONE FIRM
Lately, every brokerage firm that follows Nvidia (NVDA) has upgraded it in the resent past. As our regular readers know, we have been writing about irrational exuberance on Nvidia. We have also managed to complete two profitable trades on the short side on Nvidia.
Yesterday, after the market close, Nvidia reported earnings. First the stock spiked up. As per our prior post, we took advantage of this spike and scaled in a new short position from $24.10. The conference call was long on hope and short on specifics.
This morning we have woken up to a surprise. Citi Group, a tier one broker, has downgraded Nvidia.… Please click here or the title below to read more.
February 17, 2011