This morning on The Macro Show, Hedgeye CEO Keith McCullough discussed how he’s risk managing Nvidia (NVDA) amid the stock’s recent collapse and broader weakness among Chips stocks.
“It was a materially bad week for the most widely held stock in human history,” said McCullough on NVDA. The stock dropped 4.1% on Friday, finishing the week down -14%. Chips stocks posted their worst week in over 2 years.
Is this a buying opportunity? Our fractal-based Risk-Range Signals are suggesting otherwise.
“What makes a bubble stop going up? A) It makes a lower high B) It breaks TRADE C) It breaks TREND,” explained McCullough. “As soon as trade and trend break, then the stock goes down faster.”
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