VRA Letter: Nvidia Day Is Here! VRA Portfolio Decision; We’re Not Taking Profits. Semis Will Continue to Lead Higher. Must Read From Rich Ross. X1 Update. - Vertical Research Advisory

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VRA Letter: Nvidia Day Is Here! VRA Portfolio Decision; We’re Not Taking Profits. Semis Will Continue to Lead Higher. Must Read From Rich Ross. X1 Update.

Good Wednesday morning. Nvidia day has arrived. After the close, NVDA announces Q1 earnings with estimates of $5.63/share (EPS) and $24.6 billion (revenue). The only question here is “by how much will they beat these numbers?� ...

Posted On May 22, 20245 MIN Read

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Good Wednesday morning. Nvidia day has arrived. After the close, NVDA announces Q1 earnings with estimates of $5.63/share (EPS) and $24.6 billion (revenue). The only question here is “by how much will they beat these numbers?”

Remember, it was NVDA that kicked off the AI craze with their Q1 earnings report in May 2023…just as the regional banking crisis was taking place…saving the markets in the process with massive spikes kicking off in the semis. From that date last May, NVDA has soared 232% with VRA Buy Rec SOXL up 226%.

Here’s market watcher and FinPub Bryan Rich on the NVDA report…he’s been all over this AI boom cycle:

The larger question, for the VRA Portfolio, is “is it time to take some short-term profits in SOXL?” We added a full position size in SOXL on 4/23 at $34.25, giving us 1-month gains of 43% at this mornings price of $49 (taking us to 150% long).

Here’s the chart of SMH (Semi ETF). We use un-leveraged ETF’s for charting purposes.

While SMH is c...

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