Good Morning Traders-
Stocks go up, stocks go down.
How about yesterday? Unbelievable. Unbelievable.
Why is SMCI 0.00%↑ down? Man, this thing could just rocket. $1,398 convertible? Jesus.
NVDA 0.00%↑ taking out $800 does it get to $830-$840? Wow. Wow! WOW!
ASML 0.00%↑ what a move yesterday. You need ASML machines to make NVDA chips…
LRCX 0.00%↑ what a move yesterday, you need chips and memories to put in SMCI boxes…
And today Snowman is way up, and I think SNOW 0.00%↑ has an opportunity to go to $270-$280 next week. I don’t really know the exact thing on why Snowflake is up. If somebody can look that up I’m sure it’s an upgrade or something there. But it looks ready. MDB 0.00%↑ looks ready.
The world is changing. If you think the world isn’t changing, you’re screwed. If you think AI is not real, you’re screwed. If you’re buying garbage other stocks, you’re screwed. Think about that…
CVNA 0.00%↑ is up on bad news. Carvana missed, guided lower, but said revenue higher, over time. And it’s up.
But today SMCI and META 0.00%↑ trying to go. IF META can get thru 491 in first 10-15 minutes, it has a shot at 500. Then we see, then we see, then we see.
Bitcoin is doing nothing. So it’s stuck. After this one we’ll just sit and wait, sit and wait. And that’s what we know, that’s what we know.
ARM 0.00%↑ tried yesterday and hit 138 and came straight down 11. So if and when it gets thru 138 it will go.
AMD 0.00%↑ tried yesterday to go, it ran very nicely. If it gets thru 186 today it may try 190. Okay?
That’s what we know. And that’s what we know, that’s what we know, that’s what we know.
Everybody is asking what’s the deal with the SMCI news. SMCI priced their convertible. Two days ago they told you they were doing a convertible. But it’s the price. The way a convertible works is you buy into it. They’re giving you their bonds and they give you interest on that. And it some point in the future two years, three years, four years; whatever that is. It converts to stock. So let’s say the stock goes to $200, they probably convert it to stock. The stock goes to $2000, they probably don’t convert it yet. They just keep paying the interest. So think about it, it’s an interest-bearing option. It’s very very bullish. They’re taking it down because here is the reality of the situation. No matter who you are, okay? It went up 33% yesterday. The stock went up 33%, 250 points and we caught em. We caught the 900s, we caught the 1000s, we caught the 1100s. We actually had the 1100s that we sold early, and they went up.
Opportunity here. We’re gonna look at the 1000s right of the bat, if you can get them at three-four-five bucks, very, very interesting. Even the 1050s at 50 cents become interesting, because if it goes positive…
But NVIDIA wants to go. If NVDA can take out 819-822. 851. Jesus. JESUS. These guys are just, look everybody that just looking at a chart, everybody that is looking at how much it is up, everybody that is looking at market cap, IS GETTING DESTROYED, AND THEY SHOULD GET DESTROYED, AND ITS FUN THAT THEY GET DESTROYED. Why? Because this is the company of the ages. Now maybe in two years it goes to shit, but it’s not going to shit right now. That’s all you know.
Okay lets get going.
GM, Good Morning everybody. 2/23
I’ll be heading back on Sunday. Visited Menlo for a week. And then we see. Go gonna have some fun in Dallas.
SPX up three or four. You’re right at 5090. Do we pop to 5100 and break right through? 5120 if we rip underneath you have 5050.
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