Well, THAT was quite a night, wasn’t it?
Forget the Nifty Fifty or the Magnificent Seven. We’ve got the Wonderful One. And that is ONE company in ONE country existing in ONE sector serving ONE industry, which is an industry (AI) that doesn’t have ONE profitable enterprise in it. And even though the stock strangely FELL after earnings came out, it decided (on the same numbers) to move up by literally hundreds of billions of dollars overnight to a new lifetime high.
Mercifully, I have learned enough about semiconductor stocks these days to be nowhere near the blast zone. One my five positions, however, the one which will surely get its throat cut this morning will be my SPY puts, as NVDA has singlehandedly propelled the S&P 500 to its highest point in the history of the universe.
Tech stocks, naturally, are also benefitting, although they are not at lifetime highs quite yet.
My other four positions are, I think, in decent shape (specifically, XRT, XOP, GLD, and IWM puts). By way of example, the /NQ as of the moment I am typing this post is up over 2%, whereas the /RTY is up a mere 0.13% (and that’s even with SMCI as its major component!) So I’m feeling pretty decent about my four survivors, particularly gold………
It’s kind of bittersweet that NVDA is behind us, since things are going to get godawful boring again, and instantly. The real irony? I wouldn’t be surprised if TODAY was the day to short semiconductors, now that all this good news has been slathered all over everyone.
