What Expensive Looks Like (Patreon)

We know Nvidia is outrageous at the moment riding high on the AI wave - but I felt earlier this week that $317.50 was way stretched.  

But we are in a strange time. 

Let me explain why

1) all time high SPX Shorts

2) GDP up, GDP down - recession or not nobody knows

3) certain markets have cratered and are now rebounding eg residential real estate in select areas - but commercial is going to implode

4) YCI is insane

5) Liquidity has dried up

Yet - stocks like NVDA and LCID are at extreme valuations

I am currently short NVDA (long also deep in the money out to 2024 on a synthetic long).

Note Median Price to Sales Ratio on Nasdaq is 5.4.

But I may take a short flutter onLCID - but even though it is still richly valued the chart says it is already dead. 

Final note, I consider Tesla the top AI play on Earth today.... and things like NVDA make TSLA look VERY cheap. 

Nite all