Jensen Huang OUT at NVIDIA? Stock Market CRASH Incoming!

[00:00:00] Speaker 1: - Absolutely terrible news for NVIDIA investors. I'm sure a lot of you guys have already seen the news. Breaking NVIDIA CEO Jensen Huang resigns. Who is going to replace him? So the CFO, Colette Kress, will take over as interim CEO as NVIDIA looks for a permanent successor. And this is after 90% of employees from NVIDIA surveyed that they wanted Jensen to stay. You guys let me know down in the comments section, do you think that this is a mistake? I think that they're just trying to put the fire out. If more news continues to come out of there being, you know, a third affair, a fourth affair, a fifth affair, more negative sentiment for the company. NVIDIA is set to report earnings next week if we're not mistaken, right? Yes, it cannot have all of this negative noise. I mean, at one point today, NVIDIA was down over 13%. Now, is this a great dip-by opportunity? It could be. Could there still be more short-term volatility? Definitely. Is this possibly an overreaction in the recovery and kind of ignoring maybe some of the previous concerns? We'll see, right? We'll see how this all ages unprecedented time, right? You cannot make this stuff up. If we actually pay attention to the breakdown of Jensen, who co-founded NVIDIA, is the fourth largest investor in NVIDIA with 3.61%, and he will not remain on the board. Imagine that. The company that you started over 30 years ago, like I'm sure two weeks ago, he had no idea that his intentions of running NVIDIA were not short-term. And just to think that in a few weeks, a few days, really, all this can change. I mean, this is crazy, right? Because it's just terrible timing. Is it a coincidence? I don't know. I'm not a big conspiracy guy. But just during the time when there's all of this uncertainty with AI. Now, there's a Chinese spy that he had an affair with. Now, there's a second affair. There's a lot of concern with, you know, the financing behind some of these AI companies like CoreWeave, right, Irene. And then there's the midterm election. Just everything unfolding all at once. Well, again, NVIDIA is set to report earnings next week. We'll continue to follow closely. The message that I shared with our LPP team today was super simple. To see the buying pressure that kicked in on NVIDIA, incredibly impressive, right? Because it was down over 13% from lows of 148 to the push we had today. That's a 10% recovery already. It's still down 5% on the day. My concern is that there could be short-term volatility. So just as quick as it ran up, maybe it can correct and find a middle ground, right? There's a lot of maybe excitement in the market, a lot of emotions, and maybe it's going to take some time. If you look at the NASDAQ market, it's also looking very overextended. It has some pullback potential. One of the trades that we took today in today's live trading session with my LPP team was an overbought reversal short on Micron, right? Overbought reversal. If you're part of my LPP team, go back and rewatch it. If you did not watch it live, we waited for Micron to peak. Once it began to show signs of resistance, we opened up a small short, added more to it when direction became favorable, and then began to buy to cover as we approached previous support range. I made $5,700 and I've closed my position fully, right? The big focus that I want to have right now is there are a lot of deals long-term. I don't want that to go overlooked because we're so consumed on over-trading, right? Instead of trying to, okay, now NVIDIA looks a little bit overbought, maybe we should short it. I would be careful, right? Yes, it does have pullback potential and I get how that's attractive. But remember the bigger picture. NVIDIA is fundamentally and technically oversold. How terrible would it be that you get caught on a short down here and then it actually does begin to recover leading into its earnings. And remember, we also have the Anthropic IPO next week. A lot of positive sentiment for AI. That is not to say that in the short term, it can't sell off. I mean, it was literally crashing 13% this morning. So just a reminder to not over trade. Ask yourself, what are your intentions, right? Do you want to trade it? And if so, you better be really good at managing and mitigating risk, right? If you want to short it. If you want to invest into it, just be careful with your exposure. Because just as quick as it's running up right now, maybe that's not going to be the case if direction begins to turn against it. And then the fear begins to sink back into the market. So I'll do my part in consistently keeping you guys up to date. And like I said, we go live every morning, right at market open for our LPP live trading session. Whenever you're ready to join us, it's designed for complete beginners. And it's a great way to start your day to be kept up to date with all economic reports, earning reports, and what is happening in the market. If you ever want to tune on in, it's going to be the second link in the description down below. And it literally breaks down to less than a cup of coffee a day, a dollar and 36 cents a day with the current sell we have going on. So I appreciate you guys' time. Hope that we're in thumbs up. Please consider subscribing. And like always, let's make sure that we end the year on a green note. Take care team. Happy Thursday.