Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 178.94

-0.9%

Nov 21 9:30 AM EST

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To: Shmar10 who wrote (3356)	1/7/1999 1:22:00 AM
From: Trader J	Read Replies (1) of 56535

Shmar: SRSL - I would agree that it appears to be coming off the bottom but that is only 1/3 of the equation. The second part after the chart is volume, and it will take sustained volume to move this issue....which leads to the third variable, compelling valuation or event. Volume has been better than average recently but I look for at least 3x volume before taking a second look. The have announced a buy-back which could be used as the the "event" part of the equation but it doesn't look like it generated much interest. Without continuing volume, I see this issue headed back to 3. However, this does not mean it isn't a good play and as you stated, there is not a lot of downside risk in the immediate future. Watch for the earnings release so that you do not get stuck in it during earnings (just in case). I would call this very risk at this point as you really only have 1/3 of the equation....the chart. But arguable that is the most important factor. If it does go, it won't be until the other two, or at least the volume part, of the equation hits as well. Which ultimately means that you may have the opportunity to beat the masses when it starts to move up.........or down if volume drops. Good luck and let us know what you do with it. TJ

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