Why NVDA’s Dip Has Me Excited — Not Worried!

Jack Carter | June 24, 2024

Let’s talk about NVDA — a stock that’s been making headlines and moving mountains in the market.

A couple of weeks ago, I kicked off a new service dedicated solely to trading NVDA because this stock is at the forefront of the AI revolution, and I believe in it wholeheartedly.

So much so that I’ve been shouting from the rooftops about the generational opportunity it presents.

See, just like the Gold Rush of 1849, the real money in the AI boom is in the “pickaxes and shovels” — the chips that power AI — and NVDA is the biggest player in the game.

Now, I know what some of you are thinking…

Over the past few days, NVDA has taken a bit of a tumble, dropping from a high of about $141 last week to around $118 as of today’s market close, representing a drop of about 16%.

Some of you might be getting a little jittery, but let me tell you how I see it: This is nothing to worry about.

I expected some large profit-taking. Stocks — even ones as strong as NVDA — can’t just go straight up without taking a breather.

This is a healthy correction, and it’s good for the long-term stability of the stock.

Plus, remember what I always say: I don’t look at the P&L (profit and loss) on a stock like this.

When I by a stock like NVDA, I’m using it to create a cash flow for myself.

So I don’t look at how much the stock has gone up or down. I look at how much my shares are throwing off every month — and that’s how I judge my portfolio.

Another thing to keep in mind: Whether NVDA goes back up or stays where it is… or even if it drops a bit more… the options on NVDA are red hot. And I plan to keep cashing in with them for the foreseeable future.

So this little drop NVDA has gone through doesn’t worry me. Nothing can go straight up. This is just part of what keeps trading interesting.

If you’re feeling a bit nervous about NVDA’s recent dip, take a deep breath. This is just a blip on the radar.

The AI revolution is just getting started, and NVDA is leading the charge. Stay the course, trade smart, and let’s ride this wave together.

Trade well,

Jack Carter

P.S. If you’re curious about how I plan to keep using NVDA to create a cashflow for myself, check out this video I recorded for you.

Trending Stocks of the Week — June 24, 2024

Jack Carter | June 24, 2024

I’m going LIVE with Lance Ippolito to share the top 5 tickers to trade this week for earnings. Click here to get the tickers and our analysis!

Now for our top trending stocks of the week:

To help you discover the power of trends, every week, every week, I share with you a handful of the top trending stocks.

These stocks are picked by the custom-built TrendPoint software I designed to pick the strongest trending stocks in the market right now.

If you know anything about me, you know that every trade I get into starts with a trending stock.

Unless a stock is in a strong trend, I don’t want to hear about it. In my book, wishy washy stocks are the quickest way to losing money.

This Week’s Stocks

This week’s 3 stocks are trending significantly stronger than the major indexes:

  • BSX
  • MCK
  • MSI

And don’t forget about last week’s picks, which you can find here.

This week’s stocks show a strong trend and could still be in play for the next few weeks.

What can you do with these stocks?

Well, there are a couple of things you could consider — after doing your own research, of course:

  1. You could just buy the stock. This is probably the simplest thing you could do. Then just wait for it to go up and sell when you hit a profit target you’re comfortable with. This is only for stocks we’re long on. For stocks we’re short on, you can short them.
  2. You could buy an option. You know I’m not a fan of speculative plays, but every once in a while it doesn’t hurt to throw a little cash at a speculative option. Of course, while options can move bigtime if the stock goes up… the downside of options is that you have a time limit on how quickly you need the stock to make that move. So think about your risk tolerance and consider buying calls or puts depending on the stock recommendations above.
  3. You could do an income play. If you’ve been following me for any length of time, you know that I’m a big fan of income plays, because they increase your odds of winning. We do this by SELLING options instead of buying them. If you haven’t tried your hand at income trading yet, I urge you to try this exercise for yourself.

    Without risking any money, it will really let you see the power of income trading and why it’s my favorite method.

    Whether you end up doing naked puts, covered calls or some kind of spread, this is really my preferred method to use when I’ve found a great trending stock like the ones on this week’s list.

That’s it for now.

Stay tuned, because I’ll be sending you a new list of TrendPoint Best Trending Stocks every week! (usually Mondays)

Trade well,

Jack Carter