One of the truer sayings in the world of trading is, “If something goes down when it’s supposed to go up, sell it.” With that in mind, I present to you Nvidia this morning:
Last Gasp
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Zero Sum Game
Well, the market continues to do dick-all.
It seems that it is allergic to being interesting, since Monday was an absolute carnival and now it’s dead as a doornail once more. As I’m typing these words, the /NQ is up a heart-pounding 0.01% on the heels of what was ostensibly one of the most important earnings reports of the year.
Food, Glorious Food
Dripping Wet
In the spring of 1987, when I was a wet-behind-the-ears intern at Apple, I distinctly remember my boss complaining to a colleague. Apple had just announced their earnings, and both sales and profits were way above expectations. The stock, to their astonishment, went down instead of up. “What else do they want from us?” he asked rhetorically. Apple had been an absolute darling of Wall Street for the past few years, moving up hundreds of percent, and to them it just didn’t seem……………fair.
So, too, with Nvidia, which just announced their quarterly results and whose data simply blew everyone’s socks off. Revenue beat. Profits beat. Forward-looking projections were increased. It was just sunshine and unicorn farts as far as anyone could see or smell.
Kicking Glass, Taking Names
Anyone care to explain to me why, at a P/E of 80, Corning Glass (GLW) basically goes up every single day of the year except for Saturday and Sunday?
