Here’s how I’m celebrating NVDA Earnings Eve 🥂

It’s not how you think...

August 27, 2024

If there have been only two market themes in the past year, they’ve been the Fed and AI.

Now that Jerome Powell has all but assured us of a rate cut in September, attention is turning to the AI story…

The biggest character in that story is NVDA, whose earnings drop tomorrow evening (brace for it!).

The Wall Street Journal cites Deutsche Bank strategist Jim Reid as saying that “Nvidia’s results have recently led to market reactions that rival those seen after a surprising jobs or inflation report.”

That’s why, in my morning alert to my Bullseye members, I said, “I don’t think this is a good time to start new short positions.”

I did see good-looking opportunities on the long side, though, and that’s why my top idea of the day was NFLX calls.

I went live to trade them in front of 1000+ viewers (no pressure!), and less than two hours later, I closed my position:

Note: Trading is hard, results not guaranteed and should not be expected to be replicated typically.

If I had held another hour, I probably would have doubled this. But like I always say, no one ever went broke by taking profits.

If you’ve followed me for a while, you know I’m really hesitant to trade on big earnings days. The swings are too wild and unpredictable for my taste, and I generally prefer to stay on the sidelines and wait until I have an edge on a trade.

Right now, though, I’m watching a small stock that should be relatively insulated from the NVDA shockwaves…

It posted its earnings earlier this month and has climbed more than 18% since then.

Since Thursday, though, it has been essentially flat, but it’s making positive moves on the hourly chart and is creeping up after hours.

I think it could be on the cusp of another significant leg up.

Company insiders have made big moves into the stock lately, and at least one analyst thinks it has more than 200% upside from today’s close.

I’ll be posting the full details on this page right here at exactly 9am EST tomorrow morning.

I strongly suggest you bookmark that page and refresh it at that time.

You’ll have a chance to digest the full story before the market opens, and we hope to see some fireworks. 

You should also be sure you’ve texted “RAGE” to 1- (888) 404-5747 📲 so you’re first to hear if I have any updates.

I’ve been putting a lot of work into this write-up, so I hope you don’t miss it. 

I think it will be very interesting to watch tomorrow.

To Your Success,

P.S. Our All-Access sale ends TONIGHT — which includes Bullseye Unlimited (tremendous value!). For questions, upgrades, credits or payment plans, reach out to our crew at 1-800-585-4488 / [email protected].

 

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