Avoid entering new positions in the tech sector until after NVDA earnings announcement
Disclaimer: Whatever I say or post doesn't act as financial advice, so please do your own due diligence before making any decision.
I will stay away from tech related stocks and the S and P 500 index for now because NVDA is announcing earnings after market.
The reasons:
1) Despite the news on problem with their newest chip being announced, the stock still holding strong end of yesterday. But today it seems to be indecisive.
With that said, NVDA has one of the highest weightage on S and P 500 index, its like 7%+. So either way it swings post earnings, it's going to carry the market tgt with it. So personally I will avoid SPY, QQQ, XLK for now.
2) its just such a hyped stock this year with the whole AI explosion. So its hard to give a clear evaluation on the company. So to me if something is unclear, I won't even touch it at all. Yes I might lose out on potential earnings, but its okay. Dont chase the boat, it will eventually come to you.
3) With everything said, I will still Long on NVDA given a choice and capital. But enter when the dust settles. [Smart]
@madluvyz - Specialist in using TA to sell options and swing trade.
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