Samwise Quick Reference Handbook
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Sam, regarding the NVDA breakout, does a “hold” of the breakout refer to close as it did, or is it regarding tomorrow?
No, it’s exactly like we noted with the QQQ before its breakout above $480. The breakout above 117 doesn’t mean anything unless Nvidia is able to consistently trade above that level, right.
Like if it goes above 117 one day and the next day, it’s back down to 113 then it doesn’t really matter
The key point is that it needs to stay above 117
The next point of resistance for Nvidia is 122.
That’s about the level where we’re going to want to sell if Nvidia is overbought.
Then we’ll just wait for the inevitable pull back and buy back
Our goal in the end is to try and get into The July 120-130 call-spread for the same price.
If we can trade it one more time between now and then we might be able to end up in the 115-125. That would be ideal.
Awesome. Thanks for the response. Makes sense to me!
Trump to Rescind Chip Curbs After Debate Over AI Rules – Bloomberg. Watch NVDA fly
Sam, Did you see the news that came out around 20 minutes before the market closed?:
“Trump administration will rescind Biden-era AI chip export curbs, Commerce Department says.” That should be a big positive for NVDA.
Yeah, I saw it. It took a few minutes, but it showed up on CNBC after they were done talking with Jeffery Gundlach.
It was fairly obvious some news came out because the QQQ launched three dollars in like 20-25 seconds.
Nvidia closed well. Hopefully we’ll get some follow-through.
Yes, I couldn’t figure out why the market popped around 12:40pm PDT. And then I saw the news around 45 minutes later.
I keep stocktwits around for this reason. Was able to see why it was popping off when none of my other usual feeds gave a clue.
What’s stocktwits?
It’s an app and its like twitter but for stocks hence the name. But people were posting on why it was spiking today a good 10 to 15 minutes before official sources started reporting the AI diffusion thing.
Twitter and Truth Social (for Trump updates) are good for this too. Truth Social is how I learned about the tariff pause before the news.
I don’t follow any accounts. I just follow whatever stock I want to see and look at the message board below
Hello Sam, With this good news, the probability of seeing NVIDIA continue to rise above $130 without an interim decline increases considerably? You mentioned this option in a previous article, specifying that it was a possibility, but that you found the probability of an interim decline with a rally to $150 by the summer to be higher. Also, given the strong releases from Microsoft and Meta, thanks to AI, it seems to me that NVIDIA’s releases will also be very good for May 28th.