Was looking at what Nvda has done after over earnings the last 2 years and it only had two big moves during that time, the other times it has been flat with a downward basis even though they keep growing and beating estimates. I guess traders aren’t impressed with a massive quarter. From past history it looks like it may sell off a bit for a week or two, but I still think its a great long. Also Its not much higher now than it was in June, nor is the Nasdaq, while the broader market is higher, so i think its due for a new leg up after a little consolidation.

11/19/2024

I feel like todays big move in Nvda is due to FOMO as traders don’t want to miss another big move up if responds well to earnings. And yes it could sell off, but I think that would only be temporary as traders would jump in to buy it cheaper. It’s also my opinion the sell at the end of last week is done with and we will new highs in market within a week, especially if Nvda does well. For now I am doing a Strangle on TGT 135/175 3 DTE and a Diagonal call spread on TJX selling Dec 20th 115 call and buying the 3 DTE 112 call

Even though earnings are mostly done there are still a few good ones left. a lot of the retailors are reporting this week. But i am expecting Nasdaq to not do much until Wed after the close when Nvda will move the market one way or the other. (I believe up), unlike some other stocks it hasn’t exploded recently and is trading at the same place it June, so it has potential and they seem to do great every earnings.

Earnings:

Mon: nothing

Tues: Walmart and Lowes before the open and

Wed: Target, TJX, Williams Sonoma before and Snowflake, Nvdia and palo Alto after

Thur: Bidu, John Deere , BJS, then Ross Stores , Gap and Intuit

Fri: