The chart here looks perfect for a short in 
NVDA, and as a bonus we have #Ethereum transitioning to Proof of Stake for transaction validation, which together with high electricity prices will make GPU mining go extinct overall. I'm short, as part of my long/short stocks portfolio. The other shorts are crypto currently, which are likely the riskiest of all risk on assets, and might act as a nice hedge for other stock longs.
The trend is clear from a technical stand point, and we have many macro headwinds, so I can see the stock plummeting even if index charts stay sideways or not go down as much.
Cheers,
Ivan Labrie.
NVDA, and as a bonus we have #Ethereum transitioning to Proof of Stake for transaction validation, which together with high electricity prices will make GPU mining go extinct overall. I'm short, as part of my long/short stocks portfolio. The other shorts are crypto currently, which are likely the riskiest of all risk on assets, and might act as a nice hedge for other stock longs.The trend is clear from a technical stand point, and we have many macro headwinds, so I can see the stock plummeting even if index charts stay sideways or not go down as much.
Cheers,
Ivan Labrie.
Note
If this keeps going, the $134-135 level could slow down the fall. Targets are lower, over time it'll be clearer. We have NFP on Friday, and a strong focus on any econ data point that might give clues regarding the Fed's commitment to their hawkish stance.
Note
I'm in (had covered a few days ago and reentered back at my prior exit price)
🔒Want to dive deeper? Check out my paid services below🔒
linktr.ee/ivanlabrie
linktr.ee/ivanlabrie
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔒Want to dive deeper? Check out my paid services below🔒
linktr.ee/ivanlabrie
linktr.ee/ivanlabrie
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.