Heroic Lifesaver - Part of Longbridge's Investor Led Community

$Taiwan Semiconductor(TSM.US)

It’s been a while since I updated TSM so today’s chart and trade showcase is on TSM. I consider TSM along with Nvidia as one of the more important bell weathers of the semiconductor space and I study them along with SMH as well as other relevant charts to have a rough gauge of sentiment within the space.

And her charts indicate caution ahead. She has extended her wave again and again, rebounding off supports repeatedly, underlining great strength. But that five waves need to resolve before a more meaningful push upwards.

Stay safe!

@Bridge Buzz SG

Not all dips are buyable. It seems tempting to dip into this pullback but looks like even TACO does not lift the markets as it used to do. Stay safe!

$NVIDIA(NVDA.US)

It’s Nvidia time again! Technically wise, not much has changed since my last post. Still tracking that five waves up for an ending fifth wave with an extension to the 250 levels especially if results satisfy the market.

Nvidia’s results will be important for the general market trend.

However, Nvidia is due for a pullback and in my honest opinion, better prices are ahead.

@Bridge Buzz SG

Singapore’s AI beneficiaries have rallied quite a bit to be honest. Much like their US counterparts, a breather is much required and a healthy outcome.

Week 4 - Rotation into defense

The market has been too vertical lately into an ending five wave pattern across many names and especially sectors into a time factor.

As such, I decided to keep raising cash into strength and this week rotated into defensive names as well as a small participation in a momentum play with a tight stop.

Overall defensive mode.

@Bridge Buzz SG

$Micron Tech(MU.US)

Micron is the flavour of the day. Honestly speaking, I am bullish long term and on memory names in general as memory has turned into a commodity constrained by supply as opposed to a cyclical name not too long in the past. And this has been brought about by none other than the AI behemoth driving lots of technological changes.

However, technical wise, she seems rather stretched to put mildly and I have been advising caution and will advise caution at this point of time.

Stay safe!

@Bridge Buzz SG

$NVIDIA(NVDA.US)

I have decided to touch on Nvidia again, reason being she has taken back the lower trend line that was holding her back at the point of time of my previous update on Nvidia.

Since then, she has rallied admirably and all this into her earnings which will be out next week.

Now does this change my outlook on Nvidia? Not really. In fact, the five ways ending pattern is clearer now and I expect price to stall at 250 at the most before retreating proper.

Stay safe!

@Bridge Buzz SG

Be careful my friends. The market looks like it is going up but only a few names are propping the market up. Looks like a concerted effort by smart money to keep distributing under the hood. Stay safe!

$AMD(AMD.US)

Have a look at AMD’s technical picture and price action. Clear five waves up as a fifth wave of another bigger five waves. Exhaustion gap on this mini five waves up. Island cluster of price holding above that gap on declining volume and momentum.

As I mentioned many times, technical analysis is not a prediction. It is a quantified illustration of collective human sentiment towards a particular object which is ownership of AMD here.

And my read of the sentiment is irrational exuberance. And this sentiment can go on for some time pulling in even more bulls.

Be careful. Price is so high, more exit liquidity is required so smart money can keep this going longer.

Stay safe!

@Bridge Buzz SG

The market does look unstoppable isn’t it? It keeps going up and up. Think again coz that’s what the headlines want you to believe. Smart money needs lots of exit liquidity because that’s how inflated the market is! Do the smart thing. Stay safe!

$Sandisk(SNDK.US)

Sandisk is the counter I will touch on today. To keep the record straight, I am bullish on Sandisk long term. However, I am basing my opinion purely on valuation and technicals, more on technicals actually.

There are enough waves in place for a top in Sandisk, five to be exact and risk rewards here at this point of time is not very enticing to say the least. As such, I am leaving the position as it is - as a placeholder and will consider adding more at a better price.

Stay safe!

@Bridge Buzz SG

Much like the CPI, the market has been running hot too and needs to at least cool down a bit if it wants to run some more. The best question to ask is if the market still has energy to keep accelerating. I am staying defensive.

$NVIDIA(NVDA.US)

Let’s recap Nvidia. Now that she has made a new high this week, many might be cheering. However look at that tepid volume as well as that price action which shows rejection at that lower trend which she broke in February. Also note that five waves up. The pattern is complete.

So price is testing that line with what looks like a doji at time of writing.

I know earnings are coming up. But Nvidia looks to have peaked.

Stay safe!

@Bridge Buzz SG

Wow the market is really euphoric into this blowoff. Coupled with concentrated leadership and divergences across multiple sectors as well as ending fifth waves in almost all stocks especially tech, I believe this is not the time to be a hero. Stay safe!

By now the market should move on and not bother about the US and Iran’s dithering. It has been a while now and let’s just let the kids settle it themselves whilst the adults get on with more important stuffs!

Week 3- Raising more cash

The market has been on a streak and participants are getting more euphoric which is kind of normal at these levels. I respect the views. However that only strengthens mine which is to get even more defensive.

I am trimming my portfolio down and raising more cash.

Stay safe!

@Bridge Buzz SG

$Micron Tech(MU.US)

Another placeholder in my portfolio. Micron has completed all the waves required for a completion of its third wave. It has been an epic run and 718 marks the 261.8 of this third wave extension which is as much as I will give in this phase.

I shall wait for better prices ahead.

Stay safe!

@Bridge Buzz SG

Same old story. US and Iran are behaving like kids at a playground. Friends one day and fighting another day. And the markets like parents. The faster the markets ignore them, the better they will behave. And like smart kids, they are making use of their parents! In this analogy, people in the circle are making loads of money from the market gyrations!