Why Former Veteran NYSE Floor Trader Bought Shares of NVIDIA, Alibaba and Facebook on Monday
Veteran trader David Green was back live trading on Benzinga Monday morning, and the long-time trader made some moves in some big-name stocks such as NVIDIA Corporation (NASDAQ: NVDA), Facebook Inc (NASDAQ: FB) and Alibaba Group Holding Ltd (NYSE: BABA).
NVIDIA’s stock opened up at $210.50 a share. The stock quickly rose to nearly $216 in the first 45 minutes of trading. Someone in Green’s private trading room asked him what he thought about shorting the stock after it rose so quickly.
“NVIDIA is a better buy,” Green said. “Let’s get a bid out in NVIDIA. I’d rather make money than trying to make a few bucks trying to short one of these stocks.”
Live Trading With David Green is a morning trading show in which David live trades the open on Benzinga. The show airs Monday-Wednesday at 9:25 am ET on BenzingaTV.
Stocks Discussed On The Show
Facebook opened down slightly from Friday’s close, just under $360 a share. The stock quickly rose up to the $364 level, and Green pointed out the strength in the stock. Green put out orders to buy Facebook at $361.70.
Alibaba’s stock opened up from Friday’s close at $159 a share, and then quickly dropped down to near the $153 level. Green pointed out the weakness in Alibaba’s chart, but that it could be a good trade if the stock showed signs of reversal. Green put an order out to buy 100 shares of Alibaba at $152.
Green mostly executes quick day trades, both on the long and short side. When a stock hits one of his pivot points he initiates a buy order with a tight stop loss.
Watch the full episode in the clip below, or click here to watch.
About The Show:
Benzinga’s Wall Street Global Trading Academy follows Wall Street Veteran David Green as he live trades at the market open breaks down what he is trading today. The show streams live Monday-Wednesday at 9:25 am ET on Benzinga’s Youtube, Twitter, and Twitch.
About The Host
David Green is a 30-year veteran of Wall Street, including 13 years as a specialist on the floor of the New York Stock Exchange. Since retiring from the floor, Green spends his time helping retail traders. Green built a full-fledged trading course, Wallstreet Global Trading Academy, with fellow floor trader Peter Tuchman. To learn more about the course, click here or follow it on Facebook.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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