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- April 19th Stock Market Update - Nvidia craters 10%, SMCI 23%
April 19th Stock Market Update - Nvidia craters 10%, SMCI 23%
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Mukund Mohan
April 19, 2024
Market
“Nvidia cratered 10% and SMCI 23% as most Semiconductors stocks took a break. SMCI was actually no news - the company said it would report earnings April 30th. Traders took that to mean the “beat” in revenue and EPS wont be large” 🫢 🤯
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The Dow did ok thanks to Finance, but NASDAQ was down 2% and SPY 0.5%
The news from Israel and Iran did not help as well, but this should be a market that trends down for the next week or more. The market went up 34% from Oct and is now down 6% from highs. Valuations are still rich, so I expect Semiconductors stocks to take a break.
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All 4 indices were much lower for the week, led by NASDAQ down 6.7% for the week
Financials led the market higher for the Dow
Insights from the portfolio
Video of the day
Today’s video is on $GOOGL Google the advertising market leader, which is under an AI transition.
Deep dive of the day
Today’s write up is on $WOLF Wolfspeed, a semiconductor company
Good setups for swing
We have 2 swing opportunities in this down market, which you can get by subscription
