Back on February 10th, I wrote Green with NVidia, which, contrary to every analyst on the planet, said to short it. It turns out that wasn’t close to the top – it WAS the top – for all human history. So thank yew, thank yew very much. In the two months since, it has fallen about 20%, but I think an even bigger top is close to being complete. All this nonsense about a maker of gaming graphics cards becoming a giant in the world of AI………whatEVER.
From earlier today at 9:49 a.m. PST………… (post title was “The Perfect Place to Reverse”):
As mentioned countless times in the hallowed halls of Slope – – a marvelous short.
Note from Tim: Nearly seven years ago, Market Sniper (“Dutch”) wrote a piece called The Very Last Day in One Trader’s Life, a personal tale. In a similar vein, another Sloper, whom has requested anonymity, offers up this autobiographical tale (unlike Dutch’s, which was about a friend), and I am grateful for this thoughtful contribution. I usually embellish posts, including those from outside contributors, with graphics to make them more interesting and approachable, but I am leaving this as an unadorned essay, as originally submitted:
Let’s talk about something dark. Something really dark. This may not be appropriate for a trading blog. This is a story about suicide. A very personal story about failed life expectations, great loss, and how nice guys finish last.
Ever since age 16, I was driven. I had high life goals, school was easy, grades were high, and life was high. Life came easy. I was born with a silver spoon. My parents were not super rich, but very conservative and had zero debt with enough savings to give their children every advantage they could. When I was old enough to drive, my dad gave me a 1979 Chevy. It was an old beater, it didn’t impress girls, but it was mine. I was proud of it. The Chevy taught me a lot about life. I always had a pair of jumper cables handy since that battery was always dead. A lesson, I had not yet realized the importance. There is always option B when things look dire. A backup plan.
I have mentioned Finish Line (FINL) again and again and……….again!………as a short candidate, both here on Slope and on tastytrade. Well, the analog I’ve pointed out ad nauseum is really kicking in, dropping nearly 20% on Friday alone.
As is so often the case, my charting was brilliant and my trading was idiotic. I covered this thing earlier in the week for reasons I cannot fathom or even remember. I guess I’m simply the ghey. But in spite of my personal idiocy, I am pleased to have offered up another terrific plunger. Much lower prices to come.