TAKING PARTIAL PROFITS ON NVIDIA (NVDA) RIGHT HERE
We are partially exiting with profit our Nvidia (NVDA) position right here at $22.50. We sold short one tranche at $24.10 and 3 tranches at $26.00.
Nvidia seems to be holding at a major support around $22.40. Our negative thesis on Nvidia has not changed. We are simply following the discipline of ZYX Change Method.
We will short sell again on decisive break of the support or on up spikes. On up spikes we will be looking for exhaustion before entering a short position.
February 23, 2011