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Nvidia Bears Get Wiped Out

05/25/2023

Less than a minute

2023.05.25 05:07

Tim Knight

A moment of silence, please, for anyone short NVIDIA (NASDAQ:) (or, God help them, in a naked options position).

NVDA Stock Chart

As I have implied, I have no position at all in the company, except my puts (September $140, on which I took partial profits today). So, yeah, those are going to get smacked in the nose, but I can deal with it.

What’s interesting is that this one company has unwound ALL of today’s loss and part of yesterday’s as well in a stroke on the /NQ.

Nasdaq Chart

I’ll be the first to admit I was hoping for some kind of shocking wipeout, but success clearly breeds success. The bulls just got yet another lease on life.

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05/25/2023

Less than a minute