Dear Members,
Once again, the market is down significantly, and negative sentiment about AI is dominating Wall Street. Last month, robust NVDA earnings failed to give any boost to the market because of the Scorpio Moon. Thursday was one of the very gloomy days (20 Nov), as Scorpio Moon brought dark clouds.
Today, once again, the Scorpio Moon is dominating the market trend; it is a very gloomy day when AI tech giant stocks like NVDA and AVGO have their worst day, along with all the uncertainty of ORCL. It looks like the AI story is dead, and investors are dumping any AI-related stocks they hold.
My advice: If today were not a Scorpio Moon, I would have recommended going all-in in all major AI companies. I would have told you to buy right now: NASDAQ at 24755 and S&P at 6741, but I am always scared of Scorpio Moon and don't like to give any critical trade-related advice. Also, at the same time, I will recommend buying SOXL and TQQQ.
If you are not concerned about the next eight trading days, you should start buying. Buy call options to limit risk. A few weeks back, I mentioned that ORCL won’t go below $177, and I still hold this prediction. I know there is too much noise around ORCL, but I believe the dust will settle in the next week or by next Friday.
Today MU earnings will be out, and we see one of the best results for MU. This will push the stock sharply higher. Only problem, too many are waiting to sell stocks on any rise after earnings, but I will hold MU.
Metals are trading very positively as predicted. Gold, silver, platinum, and palladium are on the rise. We have been recommending buying all these metals, and we are still not recommending any short positions. However, our short recommendations will be out soon, so wait for those predictions.
Thanks & God Bless
Mahendra Sharma