Chapters
00:00 Intro and Monday Night Football
01:34 Ben: Tesla's Morgan Stanley Upgrade
02:40 GP: An Odd $400 Target
05:44 Breaking the 50-Day Sell Streak
07:17 Nick: Trend Days Are Hard to Day Trade
10:20 Ben: The Tesla 270 Calls
13:59 Tesla Versus Netflix and Nvidia Intraday
15:33 Nick: Tesla's Inverse Head and Shoulders
17:36 Above 300 and the 313 Gap
19:06 Buying Tesla in the 120s
23:13 Semis: Resting or Breaking?
27:23 Nick: Nvidia's Range
28:26 GP: Nvidia's 440 Level
29:59 Ben: The Arm IPO
33:07 Rivian Is Itching
35:44 Nick: Rivian's 41 Level
37:20 Amazon and Microsoft
38:25 Microsoft's Cup and Handle
39:58 Apple and the China Ban Rumor
43:01 Apple Levels
44:37 Meta and Shopify
47:42 Shopify's 19-Month Range
48:15 Nick: KLA and Nvidia Drifting Lower
49:16 Zscaler, CrowdStrike and SentinelOne
53:53 Okta and UiPath
55:26 LEAPS Versus Shares
1:00:02 Quarterly Stock Picks
1:03:44 Buy It if It's the End of the World
1:06:22 The Nvidia Fraud Narrative
1:07:23 Wrap-Up
Market Hours #84 went out live on Monday evening, September 11, with Ben, Nick and GP. Tesla ripped after Morgan Stanley's upgrade and helped lift the whole market, and Ben, whose quarterly pick is Tesla, took a victory lap. The hosts debated whether the semis are resting, Nvidia's 440 level, the Arm IPO, Rivian's base and Apple's China headlines, and each host checked in on his quarterly pick.
Nick's setups, levels and trades
Nick said trend days are "difficult to trade." On Tesla, "your entry had to have been 266.06 if you... day trade in a similar way that I do," because he watches the first 60-minute range of a gap. If the gap doesn't fill within that first hour, he expects either a chop day or a continuation in the direction of the gap. The smallest time frame he uses is a 10-minute bar. On the weekly and even the monthly, "I'm really starting to see more of like an inverse Head and Shoulders" on Tesla, with a neckline around 300. He had alerts at 260.18 as a B point for a leg higher, and at 300 on the weekly for "a larger CD lag higher." If that plays out, "I think 400 minimum," and he thinks Ben "might have picked the... stock of the contest winner." He's "kind of in the camp" that the semis need to rest, and he thinks Nvidia could test the low end of its range if the 50-day doesn't hold. On Rivian, "I don't generally like to trade cheaper stocks but... the breakout takes you to 40," and "when it takes out 41 I think that's when I would technically consider it going stage two."
KLA held its 50-day, but he didn't like the bar Arista put in. "When a stock is in a Range and a breakout fails... I just kind of assumed that price wants to make its way back to the low end of the range," so he thinks Nvidia drifts a little lower if it doesn't hold the 50-day. His quarterly pick, Fastly, held the 10-day EMA after a daily engulfing bar, and "2431 is like my next B point for the next CD leg higher."
Ben's setups, levels and trades
Ben's quarterly pick is Tesla, and "what a move on Tesla today after the Morgan Stanley upgrade." "There was no stopping the freight train." He's been doing "my little 15 minute option game," and "I bought Tesla 270s" at 9:45 once the candle held above the gap exhaustion area, around 262.40. "It was a big winner for me today." His stop would have been a break of about 261, or a retest of the day's low. On Tesla's quarter, "I enjoy when we all win," and he wants all three hosts to have big winners. He also flagged the Arm IPO on Wednesday. Investors who want in may need to reallocate from other semiconductor positions, and institutions get in "on pre-ipo pricing." "There are moments that scare people and get you out of your positions... but usually when it feels like it's at its darkest that is when fortunes are made by people who are buying and not selling."
GP's setups, levels and trades
GP called Morgan Stanley's $400 target on Tesla "a really weird price," since "that's not even back to all-time highs," but "it's a nice way to kick off a move that was already technically telling you it was coming." The volume in the 120s was "bananas" and showed that "it's a matter of when not if." On Nvidia, "it's doing exactly what it did post earnings last time," retesting the breakout level. The low was 440.22, so "if you were taking a trade here that's your... risk reward stop at 442 or slightly under it." His quarterly pick, Wayfair, "it's just waiting for the base right it's retesting the base," with "a low volume pullback into the top of the base." With heavy short interest, "when this starts to move... this this will fly." His level is only about $1.50 below the price, against potentially $50 to $60 of upside.
Subscribe for the weekly live show at YouTube.com/@MarketHoursPod.
This is not financial advice. Market Hours is for education and entertainment only. Always do your own research.
Follow Market Hours: YouTube @MarketHoursPod · X @markethourspod · TikTok @markethourspod · StockTwits @markethourspod