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.”
Stay prepared for every major market move. Tune in to The Macro Show every day before the market opens to bulletproof your portfolio.
