Our Biggest Gainers & Losers of the Day in the $100,000 Build Portfolio

For the 10th July 2024:

Someone’s given Gamestop the kiss of life…. And I love it.

I’ll never short stocks generally. But I always make exceptions for meme stocks. It’s not very often you get to short an asset that is clearly overvalued so when they spike I take full advantage.

The best thing about valueless spikes is you can see the support & resistance levels very clearly. That means you can time entries & exits pretty accurately. Well timed entries = well earned 💰💰💰

Today, Gamestop gained just under 6% at it’s peak. If you take a look at the 5 minute chart you can clearly see these levels have been reached & rejected recently so that’s my cue to load up the shorts.

Volume was also lower on the upside today. Low volume = low momentum = high chance of reversal. And that’s exactly what we saw with Gamestop finishing up only 1.5% on the day.

Going back to the 5 minute chart, I think we’ve still got a lot of room to move down too.

My minimum target is $24 which is another 3.75% drop. In an ideal world I’d like to hold until we reach $22.50 which would be a 10% fall.

Even at $22.50, I still think that’s a conservative target but all my positions are 5x leverage so don’t want to be too greedy

With all that said, never underestimate the power of MEME.

In the name of risk management, if you want to trade this way make sure you’ve got enough liquidity to ride out any crazy spikes from a Roaring Kitty tweet and/or keep sensible stop losses & don’t hold overnight.

I’m guessing you’ve heard of Nvidia, right?

They’re the top dog in AI computing, but my position in the underdog was my second biggest gainer today!

So what happened?

AMD is the second-largest GPU provider in the world (to Nvidia) but they’re coming for first place.

AMD announced they’re buying Silo AI, an AI research company from Finland.

🎉*crowd goes wild*🎉

The deal is worth $665 million & it’s a play to work closely with the global AI community to access the best talent & research. This deal alone is bringing on 300 AI experts.

Last year, AMD’s Instinct MI300 AI chips set the market alight. They’re expecting to rake in $4 billion in revenue from just these chips!

So it’s no secret that AMD’s hardware is the bee’s knees but what about their software?

Microsoft is already using AMD’s MI300 chips in their Azure cloud, but there’s a concern about whether AMD can take full advantage of the opportunity.

That’s where Silo AI comes in!

They’ve got a track record of helping big companies like Allianz, Rolls-Royce, and Unilever implement AI solutions with AMD hardware.

It’s a match made in heaven!

A strategic partner to bridge the gap on Nvidia & this gap and ensure their hardware shines with the right software support.

Today’s rally puts my current holding at over 16% in profit & we’ve still got room to grow.

AMD currently makes up 0.84% of my portfolio. I’ll be looking to scale this up to around 1.5% & keep an eye on how things go.

If they can knock Nvidia off their perch the gains could be insane!

That’s all! See you same time tomorrow 👋

P.S Hit reply & let me know what you thought of today’s newsletter. All feedback is welcomed ❤️