Nvidia is bouncing today. Nasty selloff the last few days. It did fill a key gap that I discussed in the the game plan yesterday. I did play it in the live day trading room as a bounce play. Worked out beautifully for a day trade.
But what does that mean for stocks like Tesla, or rather, not Tesla, but Nvidia and some other semiconductor companies? For me, Nvidia's stock rose and almost closed the price gap that dates back to May 14th, which is actually the day after my birthday.
And I expect that if we see another strong push in the markets in general, Nvidia's stock will likely hit new record highs next week. Isn't that so? Again, we know how trading volumes tend to be during the holidays.
We do not trade on Mondays, as the markets are closed. Therefore, public markets may experience lower trading volumes, which could lead to a gradual rise in the markets, which will certainly help Nvidia.