DP Trading Room: Carls Grab Bag – Chipotle (CMG), NVDA, Bahnsen, Hussman
Chipotle Mexican Grill (CMG) had a strong day yesterday, making a new high and is up another percent today. The pattern is bullish after the most recent breakout, as well as most catalysts lining up. Furthermore, it is worth noting that Chipotle keeps its Melt-Up Momo pattern. The stock has a positive market reaction to numbers. The good news is that it made a high run-up yesterday and has held the gains today.
NVDA has been weak lately selling off to critical levels. The failed breakout was significant. There has been a nice head fake which is another opportunity to get in for traders. Entry levels have been discussed in the room. News item that the 30-day puts were put buyers and today we have an outside reversal to the downside. Mike has been great at researching the credibility and how to interpret Twitter and Instagram. This has been a step to keep a close eye on for traders.
David Bahnsen was on CNBC Fast Money Halftime Report to discuss the Fed. He was a Fed critic in 14 of the last 15 meetings and today is the first time he transitioned from hawkish. Bahnsen also expressed a strong feeling about how and why they would cut rates and what everybody should have been doing all along.
Doug Hussman wrote the same comments in March, having a sharp reversal after Fed minutes. This surprised people expecting optimism in the market. In the interim quarterly update, he indicated that recession holds weight. The Hussman Strategic Growth Fund has underperformed its benchmark but the gains are weak comparing to the dip in 2019. It’s up in the low single digits for the year. All in all, his perspectives into the future of investments hold value for traders in the room.
Overall, the DP Trading Room provides valuable insights for traders looking for current analysis and in-depth discussions on various market trends and individual stocks. From Chipotle’s strong performance to NVDA’s recent weakness, David Bahnsen and Doug Hussman’s views on the market, the trading room offers a comprehensive look at the current market situation and investment opportunities. Traders can benefit from the expert opinions and analysis shared within the trading room to make informed decisions in their trading strategies.