Stock Market Update 5/30

The stock market continue to be propped up by fake news and the Federal Reserve and I'm looking to capitalize on the action every day. Stocks I'm watching tomorrow are (NVDA) (ULTA) (AVGO) (NTES) (SHOP) and (TSLA).

NVDA has had a monster run with no end in sight. I would trade this cautiously but try to take advantage of the massive move up if you can. Goldman sachs price target on the stock is $165 and the stock closed today around $145. (ULTA) has seen monster gains since I mentioned it last week. The company beat earnings and continues to be one of the only retailers to own. I would recommend taking a look at this one as they will likely continue crushing earnings. (AVGO) is a great pick and a favorite by many. The stock had a technical breakout point at $227 and and closed around $240 today. Might be a good add here as it looks to head higher. (NTES) is lagging a little bit and needs some time to get its legs but looks good to go higher soon. (SHOP) is one I'm avoiding right now as it needs a rest. I'm currently short the stock from $89 just for fun. I don't recommend shorting this one here. Stock is sitting at $90 and I'll be exiting my short if we move higher. I said to avoid (TSLA) last week but the stock was able to retest its $227 double top and had a monster breakout today. With the large short interest in the stock I would look for it to go to $350+ soon as people are covering on the breakout. The stock was up around $10 today and closed near $335. Maybe this one takes a rest tomorrow and offers a buying opportunity.

As always these are just my opinions so make sure you do your own research.

Don't forget to invest in silver while it's cheap!