Let’s step back in time to the beginning of 2022.
NVDA Chart
NVDA just went on a monster move, trading out of its base at 60 all the way up to $330 per share.
The company had a massive tailwind with GPU demand from Web3 applications, and while it did have a rough finish to 2021, things looked pretty good.
Now, let’s say you pay attention to the macro picture (which I’m sure you do)...
And let’s say that you had an inkling that the whole tech space was way too inflated…
Just looking at this chart, what level would you eyeball as a bearing target?
Let me give you a hint:
NVDA Chart
That big “stalactite” sticking out is what I call a Lodestone Level - a price where so much volume has traded, it acts like a magnet.
It literally “draws price” to it, like iron filings to a lodestone.
Now I didn’t believe it when I saw this level to start the year.
I thought that would be a little too ambitious.
After all, we’re not talking about some newfangled “tech play” that burns cash like a garbage pit at a trailer park…
Yet, here we are, a full round trip from the 2021 rally.
Semiconductors are now facing a glut on the market and much less demand.
But, now that we’ve hit this Lodestone Level, I’m starting to look for good plays to the upside.
No, I’m not blindly “buying the dip” or every new low, but if we get a reversal to the other side…
… a LEAP call option out of the money might be a very profitable venture.
I wouldn’t be surprised if this “Great LEAP Forward” trade made 3 digits.
Do you want to know more about these Lodestone Levels…
And solid, leveraged ways to play them to close out 2022 with a bang?
>>> Discover How These “Money Magnet” Levels Draw Liquidity Like Iron To A Lodestone
Original Post Can be Found Here