Page menu

Monday, November 20, 2023

Investors may look back on this moment, and say... RE: $SPX Nasdaq $MSFT, $INTC, $NVDA $TSLA

 Investors may look back on this moment, and say, "this is where we should have sold the AI rally"!

This morning we're seeing Microsoft trade at fresh all-time highs in pre-market, on more Sam Altman news. 

Satya Nadella's Big Announcement On Sam Altman After OpenAI Sacking


"....we're extremely excited to share the news that Sam Altman and Greg Brockman, together with colleagues, will be joining Microsoft to lead a new advanced AI research team."

 

If in fact this news marks a major top for Microsoft shares, then the 345 level becomes short term support. 

Liked by Guy Adami: 

Speaking of AI

This rally is looking like capitulation on certain semiconductor stocks namely $INTC, as I revealed on Friday.  

$INTC - 

Of course everyone is watching for $NVDA earnings, which are due out after the close on Tuesday. 

Speaking of all these chip names: 

If you recall; I put off upgrading my - 10+ year old computer system -  for the past 2 years, because of the chip shortage, and the effect that was having on highly elevated prices. Well, my patience has finally paid off!  

A couple weeks ago, I upgraded to AMD 5600X3D, and it only cost me around $299 for the chip, cooler, board, ram, and 189.99 for a new video card - capable of running all the latest games.  

AMD Ryzen 5 5600X3D Review: New Mid-Range Gaming Champ Is a Micro Center Exclusive  tomshardware.com


I'm stoked about this purchase, and can hardly wait to start the new build. 

I still need to upgrade to Windows 11, but as I understand it, that can be done for less than $20.     

How to get Windows 11 cheap (or even for free) pcworld.com

If you're in need of some computer hardware, I highly recommend microcenter, either directly on their website, in store, or on Amazon. 

This is similar to the bundle I purchased, although the deal I got is limited to in store only. 


3xtraders.com may receive compensation on purchases made through affiliate links.  

Another Stock I'm watching closely over the next several days/ weeks, as we close in on the end of the quarter is Tesla 

Tesla $TSLA - in case you haven't heard, the deep state is working hard to cancel Elon Musk, again. 

Of course CNBC is joining in the fun!  

Elon Musk’s behavior and damage to Tesla brand is ‘absolutely outrageous’ cnbc.com

Notice how they falsely accuse Elon Musk of being an anti-Semite, just as they do Trump, and his supporters?  

I'm out of time, so that will have to wait for the next blog 

The Broader Market 

My read on the broader market is that the $SPX continues to tread water above the 4500 level, for a 5th day, with the next resistance level looking like - 4545 - the Nov. 2021 high. 

Volume and volatility is expected to be super light over the next couple weeks, and I wouldn't expect anyone to want to get very short, going into the Thanksgiving holiday.   

Take care, 

AA 




 

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)