Short of the century on NVDA

15 mai 2023

NVDA has respected this parabolic trend line since its inception. The down leg in 2022 broke the parabolic trend line and this recent rally has gone all the way up to test this same trend line as resistance. It's only a matter of time before the narrative supports the technicals, whether it's a tech sector recession or China invading Taiwan. Chips in general are in for a multi year bear market repricing. I am buying Puts a year or even two years out to provide the time necessary because this is happening, at this point is just a matter of time more than anything.