Trade Findings and Adjustments 02-22-24
Keve Bybee – keve@hurleyinvestments.com
Currently:
- NVDA Earnings pushing the market to all time highs.
- Magic 7 stocks up big pushing the market with NVDA
- AMD, MU and semiconductors up with NVDA
- META, MSFT, AMZN up big too? Why? They’re USING NVDA products and services.
NVDA Calls?
- Will be ridiculously expensive from Volatility, but also because the stock is so highly priced.
- Not worth owning the stock
- Maybe not the best stock to look to trade stock or options
AMD, MU Calls?
- Great way to follow the NVDA trend at a much cheaper price
- AMD Look at maybe 185 Bull Call out 2-3 months or wait to confirm that it gets above 185 resistance level
- MU look at Leap Call out to Jan or June 2025
What could throw a damper on the market?
- TAX selling in March and April coming up
- March usually a bad month in the market
