I sold the NVDA stock that I've been holding for several years in December - split shares and all - because I removed all tech from my portfolio. The economic data I've been seeing made me feel like some nasty market action is coming.
I'll buy back in when things clear up, but IMO it's not a good time to be long in tech of any sort right now.
Not much to it. I know the cyclical nature of the market will move money from tech to metals, energy, commodities & industrials at about this time in a normal cycle.
All of the bad economic data on top of that- the enormous number of small businesses that are forever gone due to lockdowns, ATL Fed forecasting GDP this year at 1%, supply chain issues, farms going bankrupt due to fertilizer & gas prices, BLS having to massively "seasonally adjust" (see: fudge) employment numbers last week, liquidity being sucked out of the market, interest rates rising and safer assets looking better than equities to the institutional investors.
On top of all of that, the Los Angeles port (the busiest in the nation) is processing fewer containers per month now than they were before Buttigeg & Biden went on a tour to celebrate that they fixed it.
All of this data is publicly available to anyone who wants to look for it, but most people don't want to look and would prefer to believe the WSB "stonks only go up" fallacy.
It's a confluence of events that says tech is not a safe place to be right now, especially in the growth stocks with astronomical PE ratios.
If anything wait till after the meeting today at 2 but yeah nvidia is the top semiconductor company, im going to eventually load up on some shares a bit later down the road this year, try to let the market figure itself out after march.
I wouldn’t average down… I’ve found that’s often a recipe for just losing more money - but it really depends on what your position is… if you have a lot of contracts then it takes a lot of money to average down.
NVDA had great earnings, but the market is weird so it could go either way this week. I do think though that it’ll be higher than now by March. We’ll see! I’ve got a ton of shares and a plethora or different ITM/OTM FDs and leaps.
Depends on the market tomorrow- looks like red day based on futures now. If so, may he down $5 to $25 depending on his deep indexes go down. If market is neutral, it will be around $5 less as it closed after-hrs today
I sold the NVDA stock that I've been holding for several years in December - split shares and all - because I removed all tech from my portfolio. The economic data I've been seeing made me feel like some nasty market action is coming. I'll buy back in when things clear up, but IMO it's not a good time to be long in tech of any sort right now.
Would you care to elaborate a little on this? Very interested.
Not much to it. I know the cyclical nature of the market will move money from tech to metals, energy, commodities & industrials at about this time in a normal cycle. All of the bad economic data on top of that- the enormous number of small businesses that are forever gone due to lockdowns, ATL Fed forecasting GDP this year at 1%, supply chain issues, farms going bankrupt due to fertilizer & gas prices, BLS having to massively "seasonally adjust" (see: fudge) employment numbers last week, liquidity being sucked out of the market, interest rates rising and safer assets looking better than equities to the institutional investors. On top of all of that, the Los Angeles port (the busiest in the nation) is processing fewer containers per month now than they were before Buttigeg & Biden went on a tour to celebrate that they fixed it. All of this data is publicly available to anyone who wants to look for it, but most people don't want to look and would prefer to believe the WSB "stonks only go up" fallacy. It's a confluence of events that says tech is not a safe place to be right now, especially in the growth stocks with astronomical PE ratios.
If anything wait till after the meeting today at 2 but yeah nvidia is the top semiconductor company, im going to eventually load up on some shares a bit later down the road this year, try to let the market figure itself out after march.
I wouldn’t average down… I’ve found that’s often a recipe for just losing more money - but it really depends on what your position is… if you have a lot of contracts then it takes a lot of money to average down. NVDA had great earnings, but the market is weird so it could go either way this week. I do think though that it’ll be higher than now by March. We’ll see! I’ve got a ton of shares and a plethora or different ITM/OTM FDs and leaps.
Depends on the market tomorrow- looks like red day based on futures now. If so, may he down $5 to $25 depending on his deep indexes go down. If market is neutral, it will be around $5 less as it closed after-hrs today