Date: 2024-12-05 05:46:28

Is Nvidia Back? Assessing the Future Trajectory of Nvidia After a "Biblical" Rally

In today’s technology-driven market, Nvidia has always been a beacon for both investors and tech enthusiasts, primarily for its groundbreaking advancements in graphics processing units (GPUs) and accelerated computing. However, the company has faced its ups and downs like any other, leading many to ponder: Is Nvidia back on the rise?

Understanding Nvidia’s Recent Market Movements

Technical Analysis and Price Movements

Nvidia’s journey through the market has been nothing short of eventful, with discussions of potential "biblical rallies" and significant price movements drawing attention. J.R., a prominent market analyst, has notably shared his analysis, indicating a robust technical rebound for Nvidia. By employing tools such as regression channels and Bollinger Volume Weighted Average Pricing (BVAP), he highlighted the stock’s movement from a September 11 breakaway gap and its stability in dealing with overhead supply around November 21.

J.R. forecasted that Nvidia might soon approach a significant price zone near $147.50. Depending on how the stock manages this potential overhead supply, it could make a directional shift toward $170.60, considering a balanced continuation of its uptrend. This insight into Nvidia’s structure provides a glimpse into the strategies used by traders and analysts to gauge future movements.

Comparative Analysis with AMD

In the ever-competitive semiconductor industry, it’s critical to compare and contrast the movements of related companies. During the same discussion, AMD was referenced as undergoing a different trajectory compared to Nvidia. Though both are semiconductor goliaths, AMD’s chart presented a much more conservative setup, suggesting distinct market behaviors and growth strategies between the two.

Broader Market Context

Role of Market Trends and Economic Indicators

Further exploration into the market reveals broader economic dynamics, such as the impact of the current presidential administration on market optimism, which J.R. likened to the optimism seen during Reagan’s presidency. Such comparisons are vital in understanding the external factors that can drive stock prices apart from company-specific events.

J.R.’s positivity about the market’s outlook, with a lofty S&P target of 6,300, points to a bullish sentiment reinforced by systemic liquidity and major institutional buying, factors that historically propel markets.

The Crypto Connection

A relevant and modern twist in market analysis comes from discussing cryptocurrency trends, such as Bitcoin’s movement and its comparison to Nvidia’s performance. The intersection of tech companies with cryptocurrency trends offers a complex layer of analysis, adding depth to the typical financial metrics and stock performance evaluations.

Conclusion: Nvidia’s Path Forward

While speculative elements remain, the comprehensive analysis points towards a bullish future for Nvidia, albeit with cautious monitoring of market conditions and overhead resistance levels. As institutions and individual traders look towards GPUs and AI technologies driving future tech trends, Nvidia stands out as a potential leader prepared to capitalize on these markets.

Given this detailed glimpse into Nvidia’s market strategies and external economic factors, stakeholders are better equipped to predict, react, and potentially profit from Nvidia’s stock movements in upcoming quarters. As predictions suggest further rallies and challenges ahead, the market watches closely, ready to analyze each step in Nvidia’s journey back to the top.

Watch this video below for more info:

Is Nvidia Back?



2024-12-05 05:46:28
Today we sit down with Derrick Oldensmith and JR Romero to ask a very big question:

Is Nvidia back?

We also go over:

-The state of the Trump Trade
-Are buyers getting complaent
-If the fundamentals even matter
-Our favorite names

Disclosures: t3live.com/disclosures

Video transcript:
[Music] okay what’s up everybody hello everyone there on the internet should we talk about Nvidia today who wants to talk about Nvidia let us know in the chat if if we need to keep talking about Nvidia so welcome to the Brain Trust episode 11 Sammy abuad is serving a onewe suspension for giving too many trade ideas but he will be back next week we Sorry Sammy if you’re watching this we love you uh okay how is everybody doing out there Cal wants to hear about AMD I don’t know what’s wrong with you Cal but we we can get to that um so we hope everybody’s doing well out there fun times in the market the Trump rally just keeps on Raging we’re g to talk about that and a whole bunch of other stuff but the big question is obviously is NVIDIA back now so Jr last week you predicted a Biblical rally for NVIDIA so is NVIDIA is it going to go like in the word of marcelos Wallace is is it about to get medieval on us oh my goodness the Pulp Fiction reference this early in the morning look it looked good uh for the reasons I mentioned can I share my screen real quick of course okay um so you know we had we had everything we were looking for right uh a beautiful little regression Channel um right there we had anchored bwap confirmation uh you know off the off the um September 11 Breakaway Gap right to the bottom there to the bottom of the play and a very accommodating uh you know volume profile if you’re looking at the volume price analysis uh of Nvidia we’re right at the bottom of a value area within a very clearly strong uptrend so technically the the balance the technical balance was expected the question is okay what are we going to do into this distribution top you have you have some overhead Supply here it’s a very strong P profile with a Distributive up thrust on the November 21st uh failed breakout so you know you you’ve got a you know 147 and a half is now in play the question is how much time are we going to spend absorbing uh absorbing that potential overhead Supply so that’s really the question uh on the trade I’m letting it work you know and uh we’ll see what happens okay but uh do you still like it up here yeah I think it looks great okay uh two so you you floated the idea of a $200 Target you still that still sound good to you yeah I mean you gota you gotta you know accept the price cycle right so well we had that August strong August ShakeOut right right a a strong two-wave corrective that gave you a b pivot on the on the uh on the new channel and we’ve been you know phy of the price cycle trending higher uh we’ve got to get through the overhead Supply Zone around 14750 148 and then I expect uh you know I expect some some absorption through the level and then we’re going to be looking for a measured move leg to the top of the channel around 17060 or so so you know that would be the the next shortterm shorter term interm Target okay could you comment on AMD quickly since our friend um sirel in the audience is asking about AMD yeah so AMD I bought on Monday uh so we had a a little shake out of this prior power pivot there at 13373 we bought it on Monday uh around 13870 something like that uh with a Target being the daily 21 and now you’re getting a kind of a bullish consolidation and what I was looking for was like a higher pivot low on the 4 Hour chart or the daily chart uh so if we if we manage to take out 143 50 or so okay there maybe there’s a chance we see 150 150 and a half but uh this is a very different type of chart right this and a much more technical play AMD is not moving like Nvidia they are very different charts okay I I want to switch gears a little bit so I want to ask Derek because I just saw news about Robin Hood so they opened up about 400,000 new accounts in November um their crypto trading levels are through the roof volume is up like 170% do you see any like froth out there because we know the last time Robin Hood was growing out of control was like early 2021 yeah a little bit I mean I so before I happen to jump into that got to add on a little bit on the semiconductor stuff that that J.R was talking about super quickly so so first of all this this is the power of teamwork and and working with a good team because it was last Wednesday when we were live with you Mike that Jr and I were both buying Nvidia down there around that 132 area and looking for that thing to to round up and then we were discussing if this thing can get through uh 140 150 to 142 that’s the area where it could take another leg up and then that’s literally what what’s happening today so that’s just phenomenal teamwork that J.R and I can have the same idea even though we actually arrive at that idea in slightly different ways it’s the the the thought process leads to the same thing and that’s why team Mark is so great I’m I’m also long AMD right now so I can comment on it just because I’m in it this thing is attempting to break a downtrend right now is thing’s been in a series of lower highs and lower lows since uh early October when it kind of peaked out up there and this is the first time now where we kind of got an equal low back on uh November 2 7th which kind of challenges that downtrend but now we’re attempting to break up beyond that pivot definitely like Jr said a little bit of a different trade than Nvidia but I’m long and once again by by coincidence maybe coincidence maybe not Jr and I seem to have a similar Target on this I’m looking for a move to 150ish on on AMD popping over now to the Thro in this market uh when you look at Robin Hood when you look at Bitcoin when you look at the Wall Street bets community and the things that they’re saying it it seems like and I noted I noted it at a certain point today a lot of these stocks are just kind of starting to get a little crazy you know if you look at like uh I don’t know s is lagging up again today this thing was a $5 doll stock at the beginning of November now it’s a $10 stock here at the beginning of of December Robin Hood’s another one we all know what happened with mstr somewhat recently when that peaked out but there’s PL of plenty of other names that seem to be just accelerating and going crazy whether it’s uh this umac umac was short in this one a few days ago on that kind of parabolic day four top or uh yesterday we were trading I keep forgetting the symbol some other name where Donald Trump Jr got added to the the board of directors and the stock went absolutely berserk and I was I was on alongside on that one because it was still a day one on the Move um and that worked out really well soq that that that that is the one so you know trading that one long uh through $4 early pre-market yesterday and then uh gave a secondary move into the afternoon which was also great so you know it it’s not quite like it was at the end of 2020 early 2021 um but there’s a little some symptoms out there that were starting to move a little crazy with some of these stocks you know the the difference is that interest rates are at whatever 4 and a half% Fed funds instead of 0% fed funds like they were at the end of 2020 early 2021 so uh it’s something that’s noticeable I I think it’s a symptom that you’re getting closer to an end of a move than the beginning of a move I I don’t think that we’re going to turn into the full-on fury of what we saw in the beginning of 2021 but while the price action is here and while it lasts uh um I’m sure I’m speaking for both Jr and myself this is the price action that Traders live for this is great every single day there’s something out there symbol as I’ve I’ve never even heard of that I’m trading because these things are sometimes moving hundreds of percent at a time and I can be long I can be short I can get the borrow and it it’s just it’s turning into a great environment um you know talking about Robin Hood specifically Robin Hood’s another one that that that’s been on a real run you know when I log in and I look at this like Wall Street bets community and see what they’re saying they’re all in now on every single altcoin that exists all this stuff and you know I I I I’ve said it in the past I I think think at a certain point when those people start to overly spread themselves out you know at first when it’s you know just GameStop and just AMC and just just Bed Bath and Beyond running you can have the whole Community get together and those things can go nuts but then once they start getting too greedy and they say well how about this name and how about this name and how about this name and now there’s 70 names instead of three then that money gets spread out you don’t get those same moves in the same way and then and then the whole thing eventually kind of collapses in on on itself we’re not there yet I don’t think the these moves are still going and as long as the technical trades are there we got to take them but um yeah it’s just been a it’s been a phenomenal trading environment yeah it’s been very casual and um and promiscuous like just to to butes Derek’s point it’s every day people are throwing tickers at me and I’m like who the hell are these people okay here’s your buy stop Target and stop and a lot of these are working you know uh it’s wild yes so I so J.R I’ll flip it over to you in in a bit of a different way so You’ been you’ve been very bullish on the Trump trade on the action post Trump but I’m seeing like dozens of stocks that are up like 50 100% since the election over the last month like do you think that um too much good news is getting priced in at this point obviously when the fear green index starts to go insane I’m the first guy to say okay guys we need to we need to start maybe trading a little bit more defensively you know you know we need to start looking at uh you know the price earnings ratio on the S smps but this is a different Market in my opinion a different thing is happening now I I can’t I’m not a fundamental analyst and I’m not Tom Lee and my job isn’t to make but to make crazy calls but I recognize based on the price action and the charts that this is a different thing a different thing is happening now and I’m recognizing it and letting letting the trades just work okay um are are you saying This Time It’s Different little bit we’re never supposed to it’s the Trader’s equivalent of it’s not it’s me yes I just said it um yeah you know it’s funny I think we might have to do a show just on like trading cliches because I think like this year every you know every cliche is being broken in in one way or another um okay all right let’s let’s move on okay so obviously we’re seeing amazing amazing action in all these like midcaps especially anything related to money these little Finance stocks uh so um I don’t even know what I’m gonna I don’t even know what topic to talk about next let’s talk about let’s you know let’s go back to T Tesla okay so this is another funny thing I’m noticing that it seems like you know Elon musk’s 56 billion do pay package you know it got turned down by the court because like there’s that guy with like nine shares who’s suing um everybody is in favor of it though it’s like in the public everybody’s like fine give him 56 billion so J.R you you’ve talked a lot about Tesla wait Derek you’re giving thumbs down to 56 billion for Elon why what does this guy need 56 extra billion dollars for this is this is ridiculous this is this is so stupid he he he he what he should do is come out and say I’ll tell you what if you give me the 56 billion I’ll donate the entire thing to charity and then you know what I say give it to him but it’s just unnecessary for for what he’s he’s he does he even work Tesla anymore I mean the guy is in in charge of like seven businesses and the department of government efficiency and all all this other stuff I don’t I don’t I don’t think he needs it does NE I mean I I just think it’s funny how nobody’s objecting at least Derek is the is the the conscientious objector I mean Jay made a deal with the board pay the man you know I mean I think like I think he owns the board I if if that board the board is so handcuffed at Tesla it’s the ultimate group of Yes Men for anything that that guy says or wants which to be fair has actually worked out for Tesla but you know who’s overseeing him when he when he says something that you know borderlines an SEC violation on on Twitter you know borderlines you’re being very generous when you exactly I’m being generous where’s the board of directors to say hey you know you can’t say we have funding secured at $420 when when we actually don’t and where is the SEC to further investigate that stuff which Elon can you not get high on a on a crack pipe on the Joka podcast okay you see now the thing is I I the key word here is borderline and a very good lawyer can do a lot with the word borderline all here here’s what I’ll say I think it was a uniquely bsy move of Elon to forego compensation and say pay me if I hit a 10x Milestone I think that was unusually courageous of him it was a deal they made and I think they should honor it that being said I could care less all right what do you so what do you think of this the stock here uh so we came super close to that big gamma switch at 360 that is the level to watch I told my room look Tesla’s going to be a hot mess until we clear 36150 and and really show signs of price acceptance through the level until then it’s just going to be Shenanigans and you’re going to be banging your head a bunch against a bunch of robots and if that’s your thing that that’s great but you know that that’s really where the auction gets interesting for me and 330 on the lows you know 360 is is 100% the level and it’s building out a beautiful bullish wedge pattern into that 360 and we’ll we’ll see if that if that trade succeeds or not but I I said the exact same thing in my morning meeting to my team this morning I was like here Tesla 351 I I don’t have any interest in doing anything with the stock at this price it’s kind of No Man’s Land here let’s see if this thing can get through 360 which could be very actionable or if it fails to at a certain point you could get a failed move on this pattern and then it rolls down but I you kind of only think that you get a failure on Tesla if all these stocks that have been going a little bit crazy start to come down a little bit also if you begin to lose an an AP which has gone mad or you begin to lose a pal tier which legged up massively again with an insane underlying bid to it um you know I think if you lose Tesla you kind of lose maybe even Bitcoin also it’s another one this Bitcoin chart I’m surprised we haven’t gotten to this yet because you talk about it every every damn time as much as I hate it um this Bitcoin chart’s interesting with this wedge that it’s building out because there’s kind of a little bit of a a lower high there and it’s interesting because everyone’s talking about crypto everyone’s talking about crypto and Michael saor bought H how many billion dollars worth of uh Bitcoin over the course of like the last week or so yet the price didn’t actually move up over the course of him buying is is really interesting to me that maybe this is actually getting set for a little bit of a break lower on on Max hype yeah I think we’re we’re still trying to find somebody that can explain micro strategy to us because it just it just it seems absolutely badshit crazy it’s a CIA front Michael it’s it’s it’s it’s a it’s a very effective one if that but I mean it the thing with micro strategy just wonderers why not just buy like ibit calls rather than all the craziness and whack because I feel like micro strategy is going to be trading at $10 at some point it might 2000 before that but it just it it just seems like a bubble creation I think that we saw that after the purchases he he just did at like $95,000 that his average price overall is like $58,000 we’re very very far away from $58,000 but it becomes pretty interesting if for some reason I like I’m I’m not calling for this but bitcoin’s been known to sell off 80% it’s happened many times you get another really big sell down at some point in the future that gets it below his average price especially if he keeps averaging up more and more and more that’s where things could potentially become actually really interesting for for mstr yeah you you can I can I sh actually share my chart real quick sure so this is just really basic volume price analysis you see here a really high volume note on the dip to 925 okay and look how look how structure really thins out all the way to 76,000 okay if if you have uh a nasty two-wave corrective that fails to hold to the bottom of the value area here okay you’re gonna you’re GNA see you’re G to see uh Bitcoin jump out the window all the way back to 76,000 okay potentially look look how thin the structure is right here volumetrically speaking okay so it it you could potentially see that but in terms of cont context structure here this is for now highly re accumulative you had your buying climax retest your consolidating between the top of value and point of control in terms of the volume the the the thing we don’t want to see is it really crack uh uh bottom of the value area there and we don’t want to see this crack and fail to uh reinsert itself into the balance range if that happens it’s going to get really nasty I mean like on Factor the the micro strategy question like where do you guys think this would be without Michael saor because it seems like aside from Elon he’s like the icon right now I’m not sure I I I I’m I’m in Bitcoin because it was a technically sound and good idea and I I wanted some Trump Victory exposure sure uh but like I I don’t really follow the stuff enough you know what I mean I’m not really I’m not sure I’m I’m not sure how important he is to the whole Bitcoin rally to me it seemed more like uh you know uh okay maybe maybe we see the dollar really come in post Trump Victory okay and with a with a a dollar coming in hard you could see some really uh significant Bitcoin inflows into a domestic Administration that’s much more crypto-friendly that was my thinking you know whether Elon and and Michael sailor have uh you know the big Mech on Mars is is H beyond my perview I don’t understand that whole click I have zero patience for this stuff in general you know so it does make things fun but I I I’ve also noticed that a lot of like crypto scammers are are coming they’re coming out of the woodwork again people are even starting to talk about nfts which is the the most hilarious thing on Earth you don’t want to buy a picture of a monkey for $8 million Michael or I think you got to be getting close when you got a guy who buys a banana off a wall for millions of dollars and then just eats it I mean talk talk about money that’d be better off going to charity holy cow all right so I’m gonna I’m gonna give you let let everybody in on a little internal Topic at T3 I’ve started so i’ I’ve been telling the the the parental units here that we should be accepting Bitcoin as payment so if you want to subscribe to dereck’s room or Jr’s room or take courses or whatever like I think people should be able to play pay with bitco I’m I’m opting out on that you can you can you can buy sami’s room with Bitcoin I want I want I want cold hard American dollar what all Derek I admire Derek’s principles he dereck’s a man of integrity and honor okay so I’m I’m GNA just throw this out to the audience should T3 live let you pay with Bitcoin yeah Derek doesn’t want your damn Bitcoin so so he’s no good to you but let it type a yes or no in the chat let us know I think we should accept uh barbecue and beef jerky I would be all down for that maybe rib roast I’ll take that I’ll definitely that uh ski passes for sure ski passes hey there you go icon best is they’ll pay for themselves Derek oh man yeah Scoopy is he’s suggesting tacos Derek accepts Dogecoin you’re already can with Apple pay we need to look into that obviously lots of people flush with Bitcoin yeah but I mean we will we are thinking about things like Bitcoin and um barbecue and tacos and stuff like if if as long as we can resell it we we will absolutely consider it um yeah I mean you know we have so I mean Derek you’ve been saying that like there’s no real use case for Bitcoin but if we use it we would be creating the use case so by definition you would have to start liking it I think that management here at T3 would intelligently say that we don’t want to deal with the volatility risk of crypto or the transaction cost to the firm of having to liquidate it when somebody buys somebody’s room with it it is making money generally so I can I can I can talk to these people I I I know what they need to hear and I would argue that we should hold it all the way no I don’t yeah I don’t I don’t think it would be wise to carry like Bitcoin on the balance sheet as like a speculative investment I think that I think that’s where or or maybe I have no idea what I’m talking about we should just turn T3 live into the next mstr we only accept Bitcoin that’s on the balance sheet we we have T3 live go public but we don’t even have like a business anymore we we fire Jr we fire Sammy fire me we don’t need us anymore we already got the the crypto we’ll just have some like fake trading education business in the background a bot we could listen there’s there there’s like a Bank of America right by your office I can go down and say I want to borrow money to buy Bitcoin like what can you do for me look not going to give you that yeah by the way I just want to say this is what happens when Sammy doesn’t show up to these things it just goes off the freaking I I blame myself come back yeah we’re g we’re gonna have Samy will be back with next week to restore some Mor because this one went completely off the rails I’ll I’ll take the blame for this because I’m just a little like dizzy today um keyboard Warriors says who owns T3 don’t don’t ask questions like that you don’t need to know the answer to that dark and shadowy forces the Illuminati obviously Sean hendelman owns C3 T3 I think that’s okay he’s he he’s in the office today I’m gonna go terrorize him and say we need to I want to get paid in bit who is was it Eric oh yeah Eric Adams the mayor of New York City he was out bragging today about how he owns Bitcoin and how nobody should be laughing at him he’s got bigger problems bro true okay all right final thoughts uh let’s talk ideas so um Derek I know you said you like AMD I know you’re in Baba anything else you like here so I I I know you want that magic stock idea that magic One stock idea but the way that I approach markets this big picture down a small picture I take a top down approach I start with the S&P the NASDAQ the Russell I have I have rules for how I I understand technical analysis and I have rules for how I understand extension I am still bullish on this Market I I do have some signals that I’m looking for some things that would tell me to take a step back like if we saw viix get under 80 I might start getting a little bit nervous that um you know we’re getting closer to an end that a beginning in the in in in the short run I’m paying attention to see if the market overly extends to the upside the cues are are starting to get a little bit close on that this a big day four to the upside we aren’t quite at my metric of extreme upside extension in the cues which is where I sometimes like to build in in the other direction especially if it’s acting as a hedge on Longs but we’re we’re getting close if the if the qes could rip another dollar or so from where they are today that would actually be the area where I might consider beginning to build into a short in the cues keeping in mind that I’ve got 25 longs still on right now as well or at least start being a little bit less aggressive on on those loans at the same time but I big picture down to small picture while there’s some Pockets that are getting a little bit out of control some Pockets like these qes that are starting to approach more extreme upside extension I am still very broadly a bull uh there’s a a forced underlying bid in this market that I think is not going to be stopping anytime soon there is a an underlying bid that comes from corporate BuyBacks that the open WI of the biggest buyback period of the Year lasts through December 20th uh per per Goldman Sachs models uh and then once you get into that December 20th area that drops off but you go into the to the true Santa Claus rally time of the year then you get the January effect where after a a strong year and we’re having a strong year there tends to be a very strong January effect those those first two weeks of January um the the realized volatility has gotten so low in the S&P and I keep calling for an upside grind in the S&P we’re having this beautiful upside grind in the S&P but guess what we never really have days that are are up more than half a percent yet every day we’re positive it’s never more than half a percent there’s huge dispersion under the surface which is actually also part of bullish rotation the iwm goes then the q’s go then the iwm goes then the q’s go that’s what we’re seeing right now so low realized ball creates a further underlying bid that comes from systematic b control funds that are also buying up this Market everybody’s bu buing up this market so it it it’s too early I think still at this point to be a contrarian though uh like Jr was was saying earlier at a certain point we might have to start paying attention to that fear greed index or if I start seeing that position really positioning in the market really becomes extreme from the funds and the systematic funds that is also a signal for me to sometimes go the other way right now everything points to being bullish so just find me a good chart and I’ll buy it that that’s that’s where my head’s at find me any good chart I’ll buy it uh as long as I’m not chasing extension and as long as the overall risk on my portfolios is appropriate which the only reason I didn’t keep Nvidia as a swing trade uh when Jr and I were buying it last Wednesday was because I had like 34 other Longs at the same time and just from a risk management perspective that 35th swing long uh is just a little bit too much for me in case an overnight disaster occurs so the big picture right now is telling me let buy every beautiful setup that I can find this is where I wish Sammy was here because Sammy would give me 30 beautiful buy setups and I would say all right I’m willing to buy all 30 of them as long as they’re within my my risk parameters and I’m not you know starting to get a little a little bit ridiculously heavy so show me that chart pattern I like it AMD we talked about already I like I like it a little bit of a contrarian Play Still is is those Chinese names because they’re not actually a beautiful chart that’s at all-time highs like everything else but I like them especially if the dollar can continue to kind of weaken out a little bit and I I think that the I think near-term highs in the dollar are are are peaked basically at this point and we’re seeing another interesting green to Red day on the dollar even right now as as we’re talking uh so I think you can look at China still you can look at AMD still but then you got other ones like this um maybe not a great example because they report earnings tomorrow but uh upath Pat I don’t know if you want me to just show my my screen um boom like like all these names are starting to go like this upath great breakout through 14 great secondary breakout today through this like 1450 to to 1480 area I I I liquidated my position today because it’s right in front of earnings but the these are the types of setups that are that are still out there that are looking so phenomenal right now or another one that I’m in is this um uh U um Unity software uh look look at this move you know insane move extended itself corrected secondary breakout today because all these software names are are are are just are just absolutely on a tear right now again if you’re buying 2645 right now as we’re having this conversation you’re you’re late on the trade I’m not saying to buy it here but these this is what I’m talking about find me these patterns get me involved or maybe one that’s very different just because I’m trying to come up with some things that haven’t actually triggered and gone yet like here’s some interesting weakness in Intel ever since they announced uh that there’s going to be a CEO change but this is that actually weakening out into some support with a market that’s really strong so you know maybe you can look to take a stab at like an Intel into into a support level just because it’s you know one of the few stocks that haven’t hasn’t gone but other things are getting upside extended I shorted Apple today uh which which has turned into a pretty good day trade it’s like a day nine to the upside almost starting to go parabolic a lot of extension here again I’m super bullish on the market so the shorts that I take when I take them I’m just kind of borrowing them real quick uh but doing so has has actually paid pretty well also so there there’s money to be made on both sides um find me the trade setup and and let me buy it in other words Derek you’re asking for magic stock ideas is that a reference that I don’t get you were angry that I asked for the Perfect magic stock ideas for you oh and now you’re asking for them so Derek is on one week suspension he’ll be I’ll be back in two weeks I don’t I don’t provide the magic stock ideas Sammy provides the magic stock ideas I tell you the big picture on why all of his ideas are going to work all right I need to I need to sign up for a service actually I need to make a note well if you have some if you have some Bitcoin we could sell it to you okay so Jr you’re you’re still an Nvidia fan I presume you’re still bullish on this Market overall yeah what do you still like here I I texted I texted Derek he had you know that that uh you know what Princess Leia tells Han Solo I love you and he goes I know I had that moment with Derek I texted him on Sunday I effing love this markid he just texting me back I know I think that’s what he texted me anyways uh look uh the theme for me has been looking at these long accumulation bases with secondary leg break breakouts Unity was my main focus today feel like Derek and I are like one two dudes one brain sometimes um so you had a prolonged downtrend here a multi-month accumulation base inverse Head and Shoulders breakout pshape profile Facey ShakeOut uh here you know like a spring and then a platform and a secondary leg breakout uh so I’m looking for these setups I’m looking for real momentum out of multimon or sometimes multi-year accumulation bases and you know on Sunday night when we did our watch list like I was looking for follow through on the weekly so like snowflake you know inside bar break out you know I mean this one’s really overextended but there’s there’s real momentum there Netflix uh was like a day TR today but uh ccj another one I feel like I feel like the nuclear story isn’t done looking for that uh re accumulative breakout um Unity we took today app another one that people want to keep shorting this monster right came out of a multi-month accumulation base it looked like it was going to give you a high tight flag not even a chance uh they just B bought this with urgency it looked like it was going parabolic and they keep just trapping the shorts taking this higher another trade idea from Sunday night um NE is another one like coming out of a multi-month accumulation just curling and breaking out alab you know there there are so many opportunities in this market and like Derek was saying these noname Schmo stocks that I never even heard of just exploding with uh volume just such a a strong bid in this market if you’re in the right daily rotation you have to pay attention you know you have to really pay attention and understand the the the theme of The Narrative of the day and just focus on that and you you really do well in this market our data dog you know we we foresaw the or at least I was thinking another like multi-month accumulation right strong breakout of the neckline here and you know follow through this week again right there’s just so many of these Square we’ve been in this one for while problem is I think that a a lot of these like you know data dog you just pulled up can’t really buy this at 164 right now you know are all there um and that’s what’s making a great Market but that that’s almost even my problem right now when I’m trying to find an idea it’s like well you know Unity I guess was was an idea for both of us well that’s that’s gone you know P path well that’s gone data dog well that’s gone you know it’s it’s uh yeah they they got to reset up some of these patterns now at this point yeah well that’s why they’re running so many of these laggards and no names there’s just a ton of Mo you know fomo and appetite for Appetite for Destruction and uh that’s why they’re running all these uh all these scho names and and that’s usually the the for me at least the sign that uh you know it’s four o’clock in the morning the rabbi at the bar mitz was getting kind of Tipsy it’s time to wrap it up you know it’s a you know late stage uh so you got to be careful yeah and and that becomes a tricky part because some of these signals I’m looking at I I get a little bit nervous when they start running every single stock and when the Wall Street bets people are talking about every altcoin and nfts are coming back but the at the same time the data that I’m looking at still tells me that this Market is very bullish for the time being and that you know forced fund flows or forced fund flows you know corporate BuyBacks are going to happen whether the Market’s up up down or sideways and it’s just a really strong underlying bid that’s coming from what has been the biggest buyer of us equities of of the entire calendar year so it’s like like yeah there’s some of these warning signals out there when they’re running everything but also I’m not ready to come in and start shorting it yet so it’s take it one day at a time no I’m talking about momentary pullbacks to the market I I think we’re in a unique period of history and again I I’m totally apolitical when it comes to trading but I also have to recognize that for the first time since I think Grover Cleveland the the the the economy has had a direct AB type of Pepsi challenge between economies and I think that the Trump Victory is propelling a a sort of um optimism that you know that we probably haven’t seen since Reagan second term and and and I think that’s a really powerful force that can’t be underestimated I I haven’t seen optimism like this in a very long time in terms of the outlook for the economy I think we may see that reflect the trust my my S&P Target is still 6,300 and and and there’s a lot of cash that’s still out there that that still Chase into this Market there’s a lot of cash that’s been sitting there and collecting that you know four or five% interest rate that maybe is starting to say themselves at a certain point like oh you know I thought I was doing a pretty good job collecting my four or five% interest rate risk-free but I just missed out on a 30% Market move over the course of this last year by being that safe maybe I’m making a mistake maybe I should be you know getting a little bit a little bit more involved so know it’s interesting time for sure so the lesson today when you’re at the party focus on having as much fun as possible not on when it’s time to leave unless it’s you unless you are the rabbi and it’s four in the morning beware of Tipsy rabbis it’s an important lesson um and what’s the other one um gas station Sushi always okay guys all right so I’m I’m going to apologize personally for the disorganized the disorganization of today’s show I’m kind of a mess today but let us know should we come back next week yes or no let us know in the chat should we do this again I might have to suspend myself my performance was so bad today but no we will be back next week hopefully so hopefully we least serve to entertain all right y thank you guys everybody’s giving us yeses in the chat awesome right thank you guys take care be nice be nice stop being so rude some of you people have real attitudes we’re not going to be dealing with that anymore all right everybody have a wonderful day go make some more money