Is shorting Nvidia a good idea? | MarketTalk: What’s up today? | Swissquote

Show notes

Yesterday was about digesting Tuesday’s softer-than-expected US CPI data, feeling relieved that the US Senate passed a stopgap spending bill to avert a government shutdown and welcoming a softer-than-expected producer price inflation, and a softer-than-expected decline in US retail sales – which came to support the idea that, yes, the US economy is probably slowing but it is slowing slowly, while inflation is easing at a satisfactory pace.
The S&P500 jumped more than 10% since end of October, the rate-sensitive Nasdaq 100 is now flirting with the highest levels since summer while the Russell 2000 index rallied almost 12% in 3 weeks, pulled out the 50-DMA, the major 38.2% Fibonacci retracement and consolidated gains in the medium-term bullish consolidation zone yesterday.
As equities move higher and inflation slows, the anxiety regarding short positions mount – hence short covering is adding to the positive pressure.
The Big Short’s Micheal Burry reportedly exited his short position against SPDR’s P&P500 and Invesco’s QQQ and began betting against semiconductor stocks, including Nvidia!
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