To The Moon

Wall Street continues to maintain a risk-off sentiment in Friday’s session, echoing the pessimism triggered by Thursday’s unexpectedly high producer inflation figures.

Major stock indices flashed red, with the tech-heavy Nasdaq 100 once again trailing, while only small caps and energy stocks managed to buck the trend and avoid losses.

Trade lighter early next week

⚠️ Trading tips: Retail investors remained enthusiastic on semiconductors and watched the SPY following monthly inflation data released this week. Could consider tapping on the following tickers to ride the volatility early next week or wait to trade the FOMC on Wednesday.

Idea 01) According to data from Quiver Quantitative, the stock with the most mentions this week is, once again, Nvidia Corporation (NASDAQ:NVDA) with more than 6,700 mentions over the past seven days. Investors are looking ahead to the Nvidia GTC artificial intelligence conference next week. WallStreetBets' Redditors remain bullish on the stock, which has gained nearly 80% year-to-date. 

"AI will change the world, it’s not a hype that will go away and its capabilities grow at (an) almost terrifying pace. It’s not overrated, no tulips. It will fundamentally change things for pretty much every company and individual on the planet to some extent … Will NVDA competitors catch up? Yes, but it will take time, won’t happen soon. So far, trying to compete in the race means you have to become a NVDA customer," posted u/stablogger. 

Idea 02) The second most mentioned ticker on WallStreetBets this week was the SPDR S&P 500 ETF (NYSE:SPY) with 2,300 mentions. Many traders reported purchasing SPY puts after on hotter-than-expected inflation data and shared screenshots of gains or "tendies" as they are called on WSB. 

"The timing with SPY is always the hardest part, the movement is usually pretty predictable imo," posted u/Jbook30.  

Idea 03) Closing out the week's top three trending tickers on WallStreetBets is Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) with 2260 mentions. Nvidia is a key customer of TSMC, and traders are looking to the Nvidia GTC AI conference as a potential catalyst for both stocks. 

"TSM earnings in April and NVIDIA conference next week. Likely a catalyst to ATH, still super cheap," posted u/SteaknSalt. 

TSMC is set to report its first-quarter results on April 18 with earnings of $1.31 per share and revenue of $18.5 billion, according to estimates from Benzinga Pro. 

Idea 04) Investors interested in gaining broad exposure to the semiconductor industry might choose to invest in the VanEck Semiconductor ETF (NASDAQ:SMH) which tracks a market-cap-weighted index of 25 of the largest U.S.-listed semiconductor companies, including Nvidia and Taiwan Semiconductor. 

Though a more conservative investment than the short-term options plays popular on WSB, the VanEck Semiconductor ETF has seen significant gains of more than 80% over the past year. 

25 mins scalp 

Treasury yields held steady around Thursday’s closing marks, the weekly surge of 20-30 basis points across all Treasury maturities marks the worst week for bonds since mid-October 2023, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) down nearly 3%.

Cryptocurrencies remained tethered to risky assets, with Bitcoin (CRYPTO: BTC) plunging by 5% and falling to $68,000 on Friday.

Weekly options & futures trades summary

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