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How To Play Nvidia

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How To Play Nvidia
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JC Parets, author of AllStarCharts, would not play NVIDIA Corporation (NASDAQ: NVDA) into Thursday afternoon's earnings report. 

"I think it really depends on your time horizon," he said on Thursday morning's PreMarket Prep. "To go blindly into buying the strongest stock in the world is a really hard thing to do."

"From a risk reward standpoint, $164 is the level. If we're above $164, I think you can be long. I'd rather be a buyer of $137 if we can get down there."

Co-host Dennis Dick noted that Nvidia reports its second quarter-earnings Thursday after the bell.

"The biggest moves come after these big earnings reports," Parets said. "So if you're avoiding them, you're missing a lot of these moves. At the same time, if you're looking for an overnight trade or if you're looking for something over a few days, and you're going to blindly buy into something into a news event like this, you're opening yourself up to more exposure than you might necessarily expose yourself to in other scenariors. It really does get back to 'What is your time horizon?' and 'What are you're overall goals?'"

Catch the full interview with Parets at 32:50 in the clip below. 

PreMarket Prep is a daily trading show that airs every morning from 8–9 a.m. ET here and on our YouTube Channel. You can also listen to the podcast on iTunes, SoundCloud and Stitcher

Posted-In: Analyst Color Earnings News Previews Tech Media Trading Ideas Interview Best of Benzinga

 

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