Hey everyone. If you caught our livestream this afternoon at the close, you saw the earnings trade I put on for $NVDA using options.

If you didn't watch us live, then you missed the trade, and it's too late now. No biggie. You can skip the rest of the note.

If you did watch, and either you're watching from the sidelines and interested in how it plays out, or you did take the trade, read on. We'll discuss how I'm going to handle the exit tomorrow morning.

As a reminder, this afternoon, we put on a put ratio spread (1 x 2) in $NVDA Aug 30 (weekly) options. We sold short one 125 put and purchased two 115 puts for a net credit of $1.15, right at the last minute before the closing bell.

The PnL graph of this trade looks like this:

In today's Gold Rush video, we discussed our outlook for a new secular bull market in the yellow metal.

We also covered Commitment of Traders positioning, mining stocks, and much more.

We dug into our latest blog post as well, providing some much-needed color.

We covered Gold vs. Commodities, the best risk/reward setups in precious metals stocks, and more.

Here's the video:

We just saw the most important company in the world drop what is arguably the most important earnings release in market history.

And right after the release, it was a complete nothing burger.

I said it before and I'll say it again. That's the best case scenario for investors. And it paid to sell into the hype.

Here is a LIVE video we put together today discussing the importance of this release, and more importantly talking what we're doing about it!

The answer? We're zigging while everyone else is zagging.

We were coming in selling into the hype. Here was the 14-point expectation that the market was pricing in.

And after the release, it has remained well within that range.

Our main focus has been on finding the NEXT nvidia.

From the Desk of Steve Strazza @Sstrazza

Welcome to The 2 to 100 Club.

In this scan, we look to identify the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).

Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.

But the scan doesn't just end there.

We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.

All eyes on Technology today, with $NVDA reporting earnings later this afternoon.

But I'd like to add some different perspective than what you might here on twitter or perhaps on these basic cable networks that no one watches anymore.

There's a reason people keep coming to us for answers.

First of all, let's keep in mind where Technology even is relative to where it's been.

This underperformance we've seen from Large-cap Tech started as soon as it hit the March 2000 highs relative to the S&P500.

It took Technology over 24 years just to get back to where it was at the peak of the dot com bubble.

And that's where we sit today (they won't show you this chart on basic cable):

In today’s Daily Digest, we’ll review the following:

1. No new positions today.
2. Adjustment to XLP position.
3. No exits since the last report.
4. Current status of open campaigns.

Let’s dig in!

The fact that Intel is still in the Dow Jones Industrial Average is a joke.

Intel became one of the first 2 companies that trade on the Nasdaq to be included in the Dow. That was way back in 1999 (Microsoft being the 2nd one).

But that was 25 years ago.

Times have changed.

And yet, despite the criminal underperformance from Intel since then, the Dow Jones Industrial Average closed yesterday at another NEW All-time High:

Gold has not only been shining in absolute terms but is also dramatically outperforming the broader commodity complex.

While energy chops around in a multi-year range and cattle carve out a distribution pattern, the glittering ore refuses to quit printing new all-time highs.

This $NVDA earnings release on Wednesday gives Wall Street a look inside the largest component of America's most important industry.

Thousands of Traders have already signed up and downloaded our Special $NVDA Earnings Preview.

You guys know me. I don't normally overreact when it comes to quarterly earnings. 

From the Desk of Steve Strazza @Sstrazza

Welcome to The Minor Leaguers.

We've had some great trades come out of this small-cap-focused column since we launched it back in 2020 and started rotating it with our flagship bottom-up scan, Under the Hood.

For the first year or so, we focused only on Russell 2000 stocks with a market cap between $1 and $2B.

That was fun, but we wanted to branch out a bit and allow some new stocks to find their way onto our list.

We expanded our universe to include some mid-caps.

Nowadays, to make the cut for our Minor Leaguers list, a company must have a market cap between $1 and $4B.

My Commodities desk put out a trade of the week that we're going to jump into with options as well.

No need for a long preamble. It's a bull market and we're acting accordingly.

In today’s Daily Digest, we’ll review the following:

1. No new positions today.
2. Rolled XRT position to October.
3. No exits since the last report.
4. Current status of open campaigns.

Let’s dig in!