The magnitude of Nvidia's run is simply mind boggling, with the stock adding $1 trillion in market value in about two months.
Trying to short this parabolic stock is what we used to call in the trading pits of Chicago, a "widowmaker."
However, I believe that once Nvidia (NVDA) hits $1,000 it might actually be due to take a breather.
Overbought territory Typically, an investor will buy a put if they think a stock is overbought or are concerned it will fall.
That being said, Nvidia was trading at the same RSI level of 86 in early February while trading at $693, nearly $300 ago.
Persons:
NVDA, Long
Organizations:
Nvidia, Apple, Microsoft
Locations:
Chicago, Downside