Jim Cramer Shares Insights for Trading NVIDIA (NVDA)'s Shares

We recently published 11 Stocks Jim Cramer Shared His Insights On.  NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer discussed.

As the show was being aired, the broader markets were struggling and NVIDIA Corporation (NASDAQ:NVDA)’s shares had closed 3% lower. They further dipped by close to a percent on Friday before closing 2% higher on Monday. Cramer, who has defended NVIDIA Corporation (NASDAQ:NVDA) throughout the year on the back of his belief that the firm is heralding an industrial revolution, commented that viewers should wait for the stock to reverse before buying. He also mentioned the New York Fed President John Williams:

“And I’ll tell you this. Unless you see NVIDIA reverse today, you don’t wanna buy. It has to reverse. I mean think about, it was below this, it was actually at this level at 5 am, now it’s back to that level. It takes out that level. People just, it does a crescendo sell, okay, crescendo, and then it comes back. And you want to be part of that crescendo? Be my guest.

“I think NVIDIA reverses today, I think that people who are selling it, again, they could be people who are locking it in, or they could be people who are saying, listen, I need money badly. But they’ll finish, they’ll get margin down. Watch NVIDIA between one and two, when all the margin’s done, and I think it can rally. . .at 2:47 you will know exactly.

“Look, NVIDIA’s going to tell you, it’s going to tell you. It’s going to stop going down, and then you can have a real rally, but you can’t have a rally on Williams. Most people really don’t even know who Williams is.

“NVIDIA’s going to tell a tale, and let everybody get out who has to get out and then you go back and say, okay my problem is OpenAI but maybe Altman says something today. . .”

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Disclosure: None. This article is originally published at Insider Monkey.