HaiKhuu Daily Trading Report

Good morning, and happy Thursday! $SPY is up extremely nicely at the time of writing this report, and if $SPY opens up at this price, this is going to be a new 52-week high. If CPI data comes back strong, we are within a range where we can genuinely expect to see a new all-time high on $SPY. The BTC ETF has been approved and this is going to be a fun time actively attempting to trade it. The big ticker to be watching is GBTC, as that is the Grayscale Bitcoin Trust. We have seen an increase in the price of Bitcoin in the following hours after the initial news was released by the SEC, but who knows what is going to happen to the price in the near future. I would advise that the majority of individuals tread extremely lightly on this ETF, and only trade it when technicals are setting up for bitcoin.

This is going to be an interesting day for the markets with CPI data coming out during the pre-market session, so continue to tread lightly and simply follow the general market momentum.

Good luck trading today, and let’s watch as $SPY breaks out.

The updated $SPY daily levels are as follows:
Conversion Line Support: $472.45
Baseline Support: $466.39
Strong Psychological Support: $470
Daily Cloud Support: $445.12

Thoughts & Comments from Yesterday, 01/10/2024

Yesterday was another wild day for the markets as we came up to test 52-week highs, and as I said before the BTC ETF was approved. It was a great day for the markets that provided us with many great trading opportunities. Many traders were able to allocate into the markets with confidence, and many more traders were able to realize a significant amount of gains. We made a new official high of 2024, and general market conditions are still strong. It was a great day for the markets and an even better day for the traders.

We started the day with $SPY trading up slightly from the previous close, opening at $474.18, as market conditions looked optimal and continued to display strength throughout the entire morning. We quickly pushed to break above the $475 resistance level early within the first half hour of the trading day but were not able to retain that level, dropping to go on and make the official low of the day trading at $473.88.

Loading up at the low of the day would have been an amazing time to allocate long into the markets, as the rest of the day, outside of power hour was only straight bullish momentum.

We did watch as markets slowed down around the lunchtime lull, but at this point, it is assumed that is going to happen, but as people were starting to come back from lunch, we did see buying volume pick up, and pick up heavily.

$SPY quickly broke back above $475 and continued to push throughout the early afternoon, going on to make the official high of the day trading at $477.44, coming up to test the 52-week high, but not have enough general buying and confidence to be able to break through that level and break out to make an official 52-week high. Thankfully, there was at least an amazing opportunity to ride the momentum and realize gains on the way up.

After rejecting the official high of the day, $SPY did come back down during power hour, where we watched as $SPY made a relative low trading right above $475, and having an extremely quick V-shaped recovery into close.

We ended the day with $SPY officially trading at $476.56, up $2.68 for the day, or up 0.57%. It was a beautiful day for the markets with some wild momentum as we came up to test new 52-week highs, and it was even better as the Bitcoin ETF has been officially approved. Many traders were able to realize a significant amount of gains in the process. Hopefully, you were able to capitalize on the opportunities that were presented to us and realized some gains while market conditions were exceptionally strong.

Let’s see what CPI has in store for the markets today, and it should be an amazing opportunity, mostly as market conditions continue to strengthen.

Thoughts & Comments for Today, 01/11/2024

Today should be a wild day for the markets as a result of CPI data coming out during the pre-market session. Many traders are going to be able to realize a significant amount of gains as a result of these market conditions. I would look to be cautious in these conditions as a result of CPI though, because going into open, CPI will be the deciding factor on the general market sentiment as well as the momentum at open. We can realistically see new 52-week highs, and possibly all-time highs on $SPY as a result of CPI, but at the same time, we could see increased selling if CPI is worse than expected. Be careful and tread lightly, mostly if you are attempting to allocate into the markets around open, and prepare accordingly.

Do not be overly ambitious or pretend you have a magic crystal ball in these market conditions, and just KISS. Keep it simple stupid. Follow the market momentum, and realize gains while you can in these market conditions.

In the case that the markets break out, look to go long general higher-beta equity plays. Look out for organizations like $NVDA, $TSLA, and $AAPL, and make sure to set a stop at break even, and adjust your position accordingly, increasing your stop accordingly and securing more profit on the way up. Riding the momentum via a day trade is going to be extremely profitable in comparison to attempting to actively scalp and limiting your exposure, and possibly getting stopped out in the process.

In the case that markets start to sell off though, this is where a lot of fun can happen. Many different traders will navigate this differently, and it ultimately comes down to your personal style, and what you are most comfortable and confident in. Many people will look to retain some bearish exposure, by either allocating into puts or shorting equity, which in the short term does increase your risk, but at the same time, at least still give you an opportunity to capitalize on the downside. Many other people will be looking to actively scalp when there is an opportunity, which is a great way to increase the short-term potential to realize gains, mostly as markets are displaying weakness, but at the same time, extremely risky as you are actively fighting the momentum. Then, we have the waiters in the bunch. These people are going to wait until the selling is over and will look for opportunities to grab great equities at a phenomenal price and allocate accordingly. In my opinion, this is the safest move of the three opportunities, and realistically is not sexy in any way, but it provides consistency in these market conditions and is going to allow you an opportunity to trade and realize gains, with little to no downside risk. In the case that the markets come down, obviously, look to capitalize on the opportunity, but just make sure to practice safe risk management, and protect your bottom line.

For my allocations today, the majority of the sentiment will come directly from the direction we go with CPI today. In the case that the markets are displaying strength and opportunity, I will be looking to actively daytrade towards the upside, allocating accordingly with confidence and realizing gains on the equities that I am holding at this moment, but in the case that the markets start to come down, is where the sketchy part of my plans come into play and I have to play more defensive. I allocated long into the markets yesterday in many organizations, $TSLA being the largest position. I will be cutting many of the speculative positions that I entered into will be looking to limit my downside risk, and will be waiting for a re-entry opportunity on those same positions. I do not know which direction the markets are headed today, but assuming this general pre-market strength continues to follow through the day, I do believe we are in for a great time, and it will be an amazing feeling holding some strong equities that will continue to move up accordingly as market conditions strengthen.

As I have continued to say in this portion of the report, please just continue to be careful in these market conditions and do what you can to maximize your profit potential, but make sure to practice safe risk management, mostly on a day like today because many traders will have difficulty navigating these conditions, but have great potential to realize gains. Take advantage of the opportunities available, and realize some gains trading today.

If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.

HaiKhuu Proprietary Algorithm Report:

Yesterday was another tough day for the performance of the algorithm while $SPY continued to perform. Lots of the missed opportunities came from many of the major tech organizations performing extremely well yesterday and the algorithm not having exposure. It is unfortunate but C’est la vie. Not much to be said about the tough performance yesterday.

The results of yesterday are as follows:

Baseline:

$SPY: +0.51%

Our Results:

Long Term Portfolio: +0.29%
Base Algorithm: +0.03%
Variable Market Neutral: -0.09%
Variable Sector Neutral: -0.19%
Market Neutral: -0.24%
Sector Neutral: -0.27%

DISCLAIMER - This is not financial advice. Utilize these trades with caution. These predictions are generated via our proprietary trading algorithm without taking into account market conditions, news, or any external biases. This is not a signal to buy or sell any equities, and we do not guarantee success. Take these at your own risk.

My Personal Watchlist:

Note, just because something is on my watchlist does not mean it is a signal to buy or sell any equities

Watchlist:
$SPY, $TSLA, $BABA, $BA, $WMT, $NVDA, $AAPL, $MSFT

Position Opportunities:

Follow market momentum
Take profit on positions
Limit your downside risk

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $KO / $WMT
Long-Term Auto Sector - $F
Speculative Re-Entry - $DIS / $RIVN

Economic News for 01/11/2024

Jobless Claims - 8:30 AM ET
CPI - 8:30 AM ET
Budget Statement - 2:00 PM ET

Notable Earnings for 01/11/2024

Pre-Market Earnings:

Infosys (INFY)

After-Market Earnings:

Concrete Pumping Holdings (BBCP)

Wrap up

Markets are displaying a significant amount of strength in these current conditions, so make sure to follow the trend, and do not fight the momentum. Practice safe risk management, but look to maximize the opportunities that are available to us. With CPI during the pre-market session that will be what dictates the sentiment going into open, so tread lightly and prepare accordingly.

Good luck trading, and let’s see what CPI does to the markets!

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HaiKhuu Daily Report 01/11/2024