Sigh.
There are markers in history for not just life changing historical events, but also when markets start to make that long, painful, recognition that the winds are chaning into something scary as hell and shifting from a bull to bear and a bear to a bull market.
In October of 2022, it was our beloved central bank basically stating that inflation seemed sort of kind of, well, maybe, then just a tid bit almost, and somewhat more than originally thought, contained.
Ugh again.
Thus began the idea that if the markets pumped a theoretical mathematical idea that “artificial intelligence” was ready for prime time along with the Fed saying “yeah blow another freaking bubble but let us know which stocks so our super secret personal accounts can invest” became reality.
Thus far the only outcomes of the practical uses of artificial intelligence has been to “allegedly” deny old people their Medicare benefits and for people who are forced to use call centers to swear more at computer generated answers and miss the days of Steve asking us how we liked the customer service.
Once again, South Park foresaw the future hell Jensen Huang is trying to pawn off on us by putting us all into a computer generated version of the “Vendaloop.”
Meanwhile, Nvidia (NVDA) stock was able to rally from 120 per share in October of 2022 to ∞ thanks to Jensen Huang and the compliant propaganda financial used car sales media pushing a narrative for a product, artificial intelligence, which has yet to provide any demonstrable financial gain for the corporations who said in their earnings statements at least 2,372 times each, that they were using it.
Other than the really cool features on my Samsung phone enabling me to circle things and find them on Amazon, I’m sort of at a loss for the practical applications until it can replace our worthless political elites or the rest of the news media.
Way, way back in February of this year, I wrote an article titled “Cisvidia” where I highlighted what Eiffel Tower market tops look like. Just like the 1999-2000 era of the .com bust, the market leaders of this era have been hitting the stratosphere then popping and falling as they are given blindfolds, cigarettes, then executed.
This is what I said in the article on the .com bubble and how Nvidia would probably lead the way:
The media, the financial world, and civilization came to a stop this week.
Wars were paused, children’s births delayed, and the heavens shone a light again on the sleepy little blessed village of San Jose, CA.
TheStreet.com headline said it all:
‘The most important stock on planet earth’
I’m not so sure Pfizer appreciates their status being removed since they invented the “shot that saved humanity” just three years ago. But I digress.
The cacophony of calls for universal praise on the future artificial intelligence possibilities has long been touted by those pumping this stock. The usual suspects did their bull cases on the Bubblevisions proclaiming that although the risks of Terminator robots eradicating mankind were there, a stock with the potential to raise the S&P 500 to 5,200 by April was far more important than Mother Teresa, the Pope, and humanity itself.
In reality, this is just another repeat of the United States economic, stock market, and speculative bubbles throughout history.
There, I saved my laziest readers the pain of clicking on a link to one of my older articles.
This is a repeat and I shall make a bold prediction tonight about Nvidia:
Today, or some time very soon, marks the top when tits and CEOs enter the conversation.
What the hell am I talking about?
This picture of a very happy CEO Huang getting it on with his penmanship:
I’m no critic of signing a woman’s body, in fact for most of us normal guys, it would be an honor, ahem.
But this is unusual behavior for someone that proclaims his products will revolutionize the world and save mankind or some sort of blather like that.
Thankfully for those of us grounded in reality, the truth is that the charts never lie, and this beautiful bosom of a chart since 2022 tells the tale of woe which may well indeed mark the top and the pain ahead:
Galt’s Law is infallible.
All gaps shall be filled.
And at some point in the year ahead, this shall happen. It might get blamed on the alleged scandal surrounding the manufactured earnings numbers, a failure where a system full of Nvidia chips creates a financial problem for a corporation, or just plain bear market reality.
I predict, nay, I command, that once the stock split occurs at 10:1, one day when the stock is trading in the 120-150 range, the correction shall begin and the Eiffel Tower shall fall. $30 per share is my intraday low potentially, more than likely a closing low on high volume.
In the mean time, sign more boobs, rack up those G6 miles, and enjoy yourself Mr. Huang. All parties end but it’s the hangover that kills you; and the speculators, of course.
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