Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 197.99

+5.2%

3:11 PM EST

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From: Trader J	5/24/2024 9:24:29 AM
	of 56532

Two issues I'm watching closely now for entry: NVS and LULU. LULU held up well into the decline yesterday which was a bit of a surprise. If the market weakness continues, I suspect that the name could enter another phase of distribution as retail and Wall street raise cash and sell underperformers. I'm in no hurry to add this name but it's on my list as one of the few retailers I'm interested in. It usually takes multiple quarters to heal retailers when down but LULU remains a favorite of Wall St. but that seems a bit shaken. It should enter a period of "show me" which could leave it dead for a bit. I'm hoping to see another 10% come out of it but it's in somewhat new territory now. Just as likely to move 10% higher after the big drop. NVS - Just a great value name with a very reasonable forward multiple, some very exciting drugs, therapies and opportunities currently and in the pipeline and a very nice 3.75% yield while waiting. It's been on a bit of an upswing recently but now coming off. I'm looking to see if I can maybe catch it 5-10% lower in a bad period/week in the market.

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