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US Markets - The Long & Short Of It - NVDA and MU Update
Cerundolo Investment Research
US Markets Update
Volume 2, Issue 24
November 19, 2018
Items of Interest:
We were traveling last week and wanted to send out a follow up of our November 5 short ideas on NVDA and MU.
NVDA exceeded out target level and is now below the Make or Break (MOB) target zone of $162. For those that covered the position on NVDA as it came into the MOB band, great. For those that didn't, we suggest taking off 50% of the position. The money flow remains weak and we have a lower Money Flow Unit (MFU) target in the $125 area which we will play for. Short term, the stock is oversold, and we will likely reload on strength, or let the rest ride. We remain short MU.
Original chart follows the updated one below.
