HaiKhuu Daily Trading Report

Good morning, and happy Thursday! These market conditions have been absolutely wild, yet an amazing time. I hope you all have been capitalizing on this general market momentum because it has been a lot of fun. $SPY has continued to hit new ALL-TIME HIGHS and market strength is present. Many traders have been realizing a significant amount of gains trading, and it genuinely has been a lot of fun doing so. Hopefully, you have been riding this general market momentum with us, and congratulations to everyone who entered and exited $SNAP with us yesterday!

Let’s see what the markets have in store for us in these current conditions and continue to watch for opportunities to realize some gains, we should all have some fun trading today.

Good luck trading, and let’s see what the markets do!

The updated $SPY daily levels are as follows:
Conversion Line Support: $490.70
Baseline Support: $482.48
Psychological Support: $480
Daily Cloud Support: $469.07

Thoughts & Comments from Yesterday, 02/07/2024

Yesterday was an interesting time for the markets. Many phenomenal plays were presented, and even better opportunities to realize gains. We all had an amazing time trading together, and hopefully, you were able to realize gains while trading with us. Our $SNAP alert netted us roughly 60% in collected premium in a matter of minutes around open, and it genuinely was an insane play that worked out perfectly.

To start the day off, we watched as Kashkari pumped the markets during the premarket session after he stated that the housing markets have been resilient and that he only expects 2-3 rate cuts this year. That caused $SPY to move up nicely, as it opened the day trading at $496.24, up nicely from the previous close, opening the day at a NEW All-Time high. Conditions were optimal for markets to move up, but remained relatively neutral for the day around the open price, until 10 AM, where the markets rallied and watched as $SPY tested $498. Conditions were extremely strong and remained strong throughout the day.

We watched as momentum slowed down as we got to the $498 range on $SPY, and the markets did slip slightly going into the lunchtime lull, but conditions remained optimal as we continued to maintain that high throughout the rest of the day. The high of the day and the official all-time high on $SPY now is $498.53, and we watched as there was slight selling into close, where we ended the day trading at $498.10, up $4.12 for the day, or up approximately 0.83%, with an intraday bullish movement of $1.86. It was a great day for the markets with lots of opportunity, but it is just a matter of finding the right positions, timing your play out perfectly, and capitalizing on the general market momentum.

Thoughts & Comments for Today, 02/08/2024

Today is going to be another tough day to judge from the pre-market movement. At the time of writing this report, $SPY is down slightly, but it is nothing of any major concern. We have pre-market news coming out about the current jobless claims, and as a result, most of the general sentiment during pre-market will come directly from that. I would not advise you to attempt to be overly ambitious and attempt to trade prior to the event, because that event will move the markets, and really direct the initial sentiment for the day. $SPY is coming up to test $500 though, and conditions are still extremely strong. I would love to see $SPY $500, and it would be a genuinely phenomenal feeling, it is just a matter of capitalizing on the movement in the markets while limiting your exposure and general downside risk. The markets are going to come down, it is just a matter of time before it does, but conditions are strong now, so there is no reason you should not attempt to capitalize on the markets while you can.

One thing I would suggest to everyone is if you have the capital available to allocate into the markets, look to actively scalp and day trade. Many opportunities are consistently presented to us at the moment, and realistically this is a trader’s paradise. There are large movements in the markets that are extremely momentum-based, and if you are able to catch the right positions, you should be able to realize gains extremely consistently with relative ease. This is obviously not going to remain the case, but I believe that if you are attempting to allocate into the markets here, versus actively trading, you are taking on a lot of risk allocating here at the top, and will not be able to capitalize on the markets with confidence, in comparison to actively trading, where you have limited downside exposure, and absolutely no overnight exposure.

Conditions are still extremely strong, but many organizations are grossly overpriced, so please just practice safe risk management, and start to consider holding some bearish exposure and shorts in the markets, because we will see a correction soon, and I think confirmation of rate cuts coming as well as lagging semi-conductors are going to be the cause for a slip in the general markets. I may be early when saying this, but feel free to reference back to this post in the future, because I am extremely confident in this sentiment right now.

For my allocations today, I am conflicted about how I want to navigate the markets. My main priority is the protection of my portfolio and the fact that I want to have confidence in the allocations that I am looking at. There are many opportunities to allocate to the markets, but very few of them have the level of confidence that I want that would ensure success in the short term. I do have some long-term positions within my account, but at the same time, I am looking forward to capitalizing on the short-term confidence in the markets via active scalping and day trading.

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

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, $DIS, $ARM, $NVDA, $AMD, $SMCI, $RIVN, $TSLA

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $KO / $BA
Speculative Re-Entry - $DIS / $RIVN

Economic News for 02/08/2024

Initial Jobless Claims - 8:30 AM (ET)
Wholesale Inventories - 10:00 AM (ET)

Notable Earnings for 02/08/2024

Pre-Market Earnings:

ConocoPhillips (COP)
Cameco Corp (CCJ)
Phillip Morris (PM)
Spirit Airlines (SAVE)
Hershey Co (HSY)
Aurora Cannabis (ACB)
Under Armor (UAA)
Kenvue (KVUE)
Duke Energy (DUK)
Warner Music Group (WMG)

After-Market Earnings:

Affirm (AFRM)
Cloudflare (NET)
Pinterest (PINS)
Expedia (EXPE)
Take-Two Interactive (TTWO)
Illumina (ILMN)
Tenet Healthcare (THC)
Motorola Solutions (MSI)
PetMed (PETS)
First Energy (FE)

Wrap up

This should be a fun day for the general markets, I am excited to see what happens but I am concerned about how the markets are going to react here. There is still significant strength in the markets, but I am extremely hesitant to attempt to allocate heavily in the markets as a result of the current conditions of the markets. Markets still are optimal and can continue to realistically break out and make new all-time highs, so look to scalp where given an opportunity to do so, practice safe risk management, and realize gains while you can!

Good luck trading, and let’s see if $SPY tests $500 today!

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HaiKhuu Daily Report 02/08/2024