Hedgeye: ‘Mother of All Bubbles’ Epicenter Is Now $NVDA, Not $TSLA

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“This is the most obvious bubble we will ever see out of any of the bubbles I’ve ever called,” explains
@KeithMcCullough
.

“The absolute worst thing will be if Nvidia closes down today, after opening up.” ☠️

Watch the full excerpt: https://app.hedgeye.com/insights/138372-the-epicenter-of-the-mother-of-all-bubbles-is-now-nvda-not-tsla?type=macro%2Chedgeye-tv

“Nvidia had what we call an ‘outside reversal’ yesterday. $NVDA shares were up +8% on the open. It gave back all its gains on massive volume by the close. It pancaked down to 0.1%. Up 8% to 0.1%.

And they did everything they could to make sure that thing was up 10 basis points. They. You know there’s a ‘They’ right? They is a thing. They made sure that Nvidia has certain orders. They make sure that Nvidia looks green on a day that it should. But damnit did they have to use a lot of capital to do that yesterday!”

See also  When you point this out to $TSLA or $MSTR investors, they don’t want to hear it.

“It was a particularly important day. The prior closing all-time high in July was around $475. So this thing goes up yesterday from its prior closing high on big volume and every CNBC monkey is talking about it. But you close at $471. $471 is not $475. That’s called an ‘outside reversal’ where you try to shoot to new highs on big volume, on big news, and you fail.”

See also  PLTR and NVDA topped. Goldman is feeling the same vibe many of us do.

Keep your head up out there right now.

Click here to watch the full excerpt: https://app.hedgeye.com/insights/138372-the-epicenter-of-the-mother-of-all-bubbles-is-now-nvda-not-tsla?type=macro%2Chedgeye-tv


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