Why Former NYSE Trader David Green Bought NVIDIA, Tesla, and Cassava Sciences On Tuesday
Veteran trader David Green was back live trading on Benzinga Tuesday morning, and the long-time trader made some moves.
Green pointed out the strength of NVIDIA Corporation (NASDAQ: NVDA) Tuesday morning. The stock opened slightly higher, at around $201 per share, before reversing and giving up gains. Once the stock dropped, Green looked at NVIDIA as a trade.
“NVIDIA looks like a buy right here,” Green said when the stock was around $197. After putting a buy order out, Green picked up 50 shares, and then quickly sold them when the stock rose to around $198.
Green also commented that he ‘hated’ trading NVIDIA, because the stock often times disobeys the technical analysis and pivot points that Green trades off of.
Green, an NYSE veteran, often trades stocks on both sides, both long and short. He noted that NVIDIA could be setting up for a short trade if the stock goes back up to the $200 level.
Live Trading With David Green is a morning trading show in which David live trades the open on Benzinga. The show airs Monday-Wednesday at 9:25 am ET on BenzingaTV.
Stocks Discussed On The Show
Green also discussed Facebook Inc (NASDAQ: FB), saying that he liked the $348 level for a spot to make a quick day trade. Green put a buy order out for $348.40, and the stock ended up bouncing to the $350 level.
Cassava Sciences Inc (NASDAQ: SAVA) opened up, around $87 a share. The stock quickly dropped down to the $84 level. Green put out an order to purchase shares of SAVA when the stock was sliding down. The stock ended up reversing and going back up before Green’s orders were filled.
Tesla Inc (NASDAQ: TSLA) opened up, near $719 a share. After the open, the stock dropped down near the $705 level. Green put an order out to “buy the dip,” if Tesla dropped below $700.
“Tesla we buy at $696,” Green said. “Let’s put that order out there.”
Green mostly executes quick day trades, both on the long and short side. When a stock hits one of his pivot points he initiates a buy order with a tight stop loss.
Watch the full episode in the clip below, or click here to watch.
About The Show:
Benzinga’s Wall Street Global Trading Academy follows Wall Street Veteran David Green as he live trades at the market open breaks down what he is trading today. The show streams live Monday-Wednesday at 9:25 am ET on Benzinga's Youtube, Twitter, and Twitch.
About The Host
David Green is a 30-year veteran of Wall Street, including 13 years as a specialist on the floor of the New York Stock Exchange. Since retiring from the floor, Green spends his time helping retail traders. Green built a full-fledged trading course, Wallstreet Global Trading Academy, with fellow floor trader Peter Tuchman. To learn more about the course, click here or follow it on Facebook.
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