I’ve been as emphatic as I have been consistent the past few weeks: 1) The markets would take off like a rocket when there’s a deal, so the time to buy would be ahead of that. 2) Big Tech would be THE play, especially names like Nvidia (NVDA), Apple (AAPL), and Tesla (TSLA), says Keith Fitz-Gerald, editor of 5 with Fitz
Hopefully, you paid attention. Watch for a head fake or two, though. Some profit taking wouldn’t be unexpected if the FOMO buyers start chasing profits (which would be typical) during a holiday-shortened week. I could also envision one more set of political histrionics and some volatility ahead of a deal.
Either way, stay frosty!
As for NVDA, if I had a penny for every armchair QB who’s called me out the past few weeks saying...
...NVDA is expensive
...Markets don’t rally until single-digit P/E ratios
...Big Tech is like 1999
…You’ll be sorry
Blah, blah, blah—and no, I won’t.
NVIDIA Corp. (NVDA)
NVDA surged further in recent trading, edging closer to the remarkable $1 trillion market value milestone. The stock has experienced a robust 3.7% gain as it maintains its upward trajectory following the release of its exceptional earnings report last Wednesday.
Seems to me that I’m gonna need to break out my victory dance again, which, of course, is owed to the late, great James Brown.
NVDA is yet another painful lesson for the short-and-distort crowd and permabears. Just because something’s run up a lot doesn’t mean it’s ripe for a fall or a reversal.
Recommended Action: Buy NVDA.
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