#133: When too good is too good

Posts might be a bit shorter for the next few days as I am attending the Finance Magnates conference in Sydney.

S2N Spotlight

A few months ago, I wrote about a company that started at the same time, more or less, as NVIDIA and was outperforming it this year. Well, things changed. Today all eyes are firmly placed on NVIDIA and their latest earnings release; this is likely to move markets. I also noticed today that Hindenburg Research just released a report on dodgy accounting with Super Micro Computing, the company that was outperforming NVIDIA this year a few months ago.

The charts I want to share are to show you that when you enter the trade, makes all the difference. You cannot even really see the 50%+ drawdown from all time highs this year. If you were in the bush for the first 8 months of this year and were not watching your Super Micro investment, you would be happy that you are up another 100%+ for the year.

S2N Observations

Today is a relatively non-observant day.

In the spirit of yesterday’s market breadth. I just wanted to show the S&P 500 versus the Nasdaq. What is interesting is that the Nasdaq is lagging the S&P 500 both in price action and market breadth. I wonder if the market is setting up for a NVIDIA earnings miss today.

Performance Review

Chart Gallery

News Today

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