Don't think for one hot second we are headed for a mind-blowing late August rally in the markets. 

Despite the Dow Jones Industrial Average's big rally Thursday, there remains an array of growing risks not priced into stocks. Chief among them: inflation and peaking corporate profit margins. 

Meanwhile, Action Alerts PLUS holding Nvidia (NVDA) had a mixed second quarter. Results looked great on the surface, but there were some holes and guidance was OK.

For a high growth stock such as Nvidia, OK isn't good enough. Jim Cramer's Action Alerts PLUS research team drops the mic on Nvidia with this headline to members: "We Still See Significant Upside With Nvidia."

Time will tell.

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