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Friday Speedrun: August 25, 2023
This was an exciting week with NVDA dominating coverage into and after earnings, as it traced out a classic good news / bad price reaction combined with a textbook gap and trap on the open and a slingshot reversal through and back below the all-time high. chart When every analyst in the world raises their estimate on a stock two days before earnings, the stock rallies 15% on thin air that day, and the stock is already wildly popular and trading at 36X sales… These are the kinds of accidents that can happen. My view on “good news/bad price” is that it’s a meaningful setup, but it has a short half-life. That ... (full story)