Hi. I had to leave right after the close, and already tried, once, to respond, but once again they deleted my post. No clue why.
Do you see why I've been talking about The Final Hour? While I did think this was going to happen, yesterday, I mentioned earlier that I had a "feeling" that it might happen, today, but given that it was the day before a holiday, and there was only 3.68mm shares at 3PM, and the stock was right at 12.71-72, I had my doubts. Even at 3:20, it was still only 4.008mm shares, and the stock was STILL at that bid and ask.
But, at 3:50, the volume was 5.229mm shares, and the stock had broken to a new weekly high at 12.78, but there was still plenty of time to see a repeat of yesterday and have them walk it back down. Then, the Bulls used their saved up "ammo", and in those last 10 minutes we had over 2.5mm shares and the price surged WITH the volume, to close right at the high of the day and week, and 11 cents OVER the 200DMA, for a weekly AND a monthly close OVER that level. That is HIGHLY significant to "technicians".
Just look at that chart to the right of this post. Two failed attempts to take it down on low volume, followed by two days of stronger relative strength, and today's volume was the highest of the week. And, for the 2nd day running, there was LARGE buying of the January 15 calls, over 1500 both days.
There was also another HUGE block of 663k shares in the aftermarket, bringing the total to 8.73mm shares, and my "guess" is that "something is coming", maybe next week. And, at SOME point, we'll blow right through 13-13 1/8 and there is "air" between that level and 15. So, don't be surprised if some piece of news just breaks us out of this range. And, although I'm not a strong believer in technical analysis, as a Pro I learned you can't ignore it, completely, since SO many people DO believe in it.
One of the oldest "sayings" in their line of work is: "The longer the "base", the HIGHER in SPACE".
"I told you when the swing traders were selling NVIDIA share to buy Intel, our stock will rise. Now INTC is being jinxed.....LOL!
Praying that they won't come back."
What happened to Nvidia? It was $12.83 when the the high five posts were going around like this one and today it's $12.28. I was out all day so I don't know.
Those option call writers pump the stock up again to get good prices on $13 calls and then take it away?
IMHO Nvidia is a traders stock until some decent product announcements and/or decent earnings and guidance come along.
Still own a bunch of Nvidia shares, but alas most (80%) have calls written at $13 across the next two months. Let's see if they get called away. If so still up from the mid $11's basis. Trying to get the hang of this call writing...It's new to me and very complex as you have said in the past.
Note: Intel is in my portfolio, but so are 3 others. I feel so much more comfortable spreading money in 5 stocks rather than all in one.