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VRA Letter: Semis Leading; Textbook Bull Market Action. NVDA, TSLA, SMR. Latest From Rich Ross. Vista Gold Zoom.

Good Wednesday morning. Another strong day yesterday, especially in the indexes and sectors that matter most (semis & tech). Below in this relative strength chart we see that from (exactly) the markets lows of 4/7, the semis ( ...

Posted On May 14, 20254 MIN Read
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Good Wednesday morning. Another strong day yesterday, especially in the indexes and sectors that matter most (semis & tech). Below in this relative strength chart we see that from (exactly) the markets lows of 4/7, the semis (SMH) have led the market higher (S&P 500). This is textbook bull market action. From the birth of QE (2008/2009), the direction of the semis equals the direction of the broad market. There is no better tell.

We own Nvidia, the most important chip company on the planet (maybe still the most important company, period) which was up 7% yesterday and up another 3% this AM, on the backs of the sell of 18,000 of their top AI chips to Saudi Arabia. From our recent addition of NVDA at $106.50 (4/25) we have current gains of 26%. Last: $134. Keep buying NVDA on this clear breakout. 

Tesla’s mini-melt up move higher continues as well, with the stock up 6% yesterday and another 3% this AM. From TSLA’s double bottom lows at $214, the stock has jumped 60% ...

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