HaiKhuu Daily Report 02/12/2024

Good morning, and happy Monday!!! Wow, what an insane Super Bowl. Hope you all are doing amazing and are well-rested after a long night. Congratulations to Kansas City and all of the Chiefs Fans! I just want to start by saying welcome to all of the new members of the HaiKhuu Trading Community. This is a phenomenal place to be and you’ll learn a lot, and realize gains in the process. Let’s keep winning together, and have an amazing time.  

But back to the markets, $SPY is still looking exceptionally strong with $SPY continuing to trade above $500 during the pre-market session. Conditions are still looking extremely optimal, and this is looking like it is going to be another fun week for the markets. Please continue to tread lightly, but prepare for what is going to be an extremely profitable time for many traders. Follow the momentum, and realize gains while conditions are strong. Do not overallocate into the markets, and please practice safe risk management.

Let’s have some fun trading this week, and let’s make some BANK! 

The updated $SPY daily levels are as follows:
Conversion Line Support: $492.26
Baseline Support: $484.04
Major Psychological Support: $500
Daily Cloud Support: $468.87

$SPY Daily Candles - [02/09/2024]

Thoughts & Comments from Last Week

Last week was an amazing week for the markets. We continually hit new highs in the process and watched as $SPY broke above major resistance levels, and broke above $500. It was a phenomenal week for many traders, with the bulls realizing a significant amount of gains towards the upside. Conditions are still extremely strong, and anyone who attempted to trade last week should have realized gains with ease. 

The week started relatively slower, with $SPY starting the week trading at $493.69, down slightly from the close on Friday, and remaining relatively neutral throughout the day. We did see the markets drop slightly to test the daily conversion line support but watched as $SPY bounced back into close, ending Monday trading at $492.55.

Tuesday was another neutral day for the markets, we expected this after the movement that we saw on Tuesday, with $SPY opening the day trading at $493.52, chopping around for the entire day, and ending the day trading up slightly at $493.98. Conditions were not optimal, but at least the overall markets did not realize any losses. 

Wednesday is when the fun and bullish momentum in the markets started. We started the day with $SPY trading at $496.29, up significantly from the previous close, and pushing new all-time highs in the process. We did watch as the markets came down slightly to make the official low of the day trading at $495.36 but rallied to make a new high into close, making the high of the day trading at $498.53, and ending the day trading at $498.10. 

Thursday was a tighter day for the markets as we inched closer and closer to $SPY $500. There was not much overall movement as $SPY opened the day trading at $498.10, neutral from the previous close, and remained within an extremely tight range. We made a new all-time high trading at $498.71 but did not have the volume and momentum necessary to break out significantly. We ended the day with $SPY trading at $498.32, up ever so slightly from open. 

Friday is where the fun really happened in the markets though. $SPY was looking exceptionally strong leading into the day, and we had a revision come out during the pre-market to the December CPI numbers that caused $SPY to break above $500 for the first time and caused a significant amount of confidence in the process. Markets did drop back down prior to open, where $SPY started the day trading at $498.85, a new all-time high, and continued to push up throughout the entirety of the day. We watched as $SPY rallied early in the morning to break above $500 for the first time leading into the lunchtime lull, and breaking out in the afternoon, with $SPY continuing to push and make all-time highs in the process. The official high now on $SPY is $501.65, and we ended the week with $SPY trading at $501.20, up $7.57 throughout the entire week, or up roughly 1.5%.

Last week was genuinely a phenomenal week for the markets with many amazing opportunities to trade and allocate into the markets with confidence. Many traders were able to capitalize on extremely strong market conditions. $SPY is up over 20% since we found a bottom at the end of October, and this has been genuinely an amazing ride with you all. Let’s see where the markets go from here, and watch what happens here in the near future as conditions continue to display strength, and watch as $SPY continues to make all-time highs! 

Heatmap - $SPY 02/09/2024

Thoughts & Comments for Today, 02/12/2024

Today will genuinely be a toss-up of a day for the general market performance. The pre-market session is looking relatively weaker compared to previous days as $SPY is not displaying the same level of strength that we are used to during, so predicting what will happen with a lack of movement is extremely difficult, and is not something that can be done accurately without a magic crystal ball. 

The one thing I will say about these markets, is I am expecting to see a significant amount of chop during the day and relatively lower volume in the markets. Market conditions are still extremely strong, and I would advise you all to attempt to trade and capitalize on these market conditions. There will be many great opportunities that are presented to us, but tread lightly, as these opportunities may be hard to spot in real time. 

Make sure to practice safe risk management, and follow the general market momentum. Find the positions that are trending, follow the trend, and do not fight the momentum in the markets. It is a lot easier to find what is moving up, and riding the trend, than attempting to find an organization that is showing signs of a reversal, and timing out your allocation perfectly. I would remain extremely cautious in these conditions, but I would continue to attempt to capitalize on the short-term momentum and opportunity in the markets. 

If you are allocating into the markets today, just make sure to have stops set under any major support level, and continually moving that stop up over time, to guarantee more profits. Many traders are going to unfortunately get kissed out of their positions while trading today, mostly if market conditions are choppy, so don’t get emotional in the case you get stopped out of a play trading today, and make sure to secure your profits and move on. Do not FOMO back into any position, because emotional trading will cause you to realize losses. 

For my plans today, I am planning to not make any allocations. This is not anything that should be concerning as I did state this back on Friday. I would like to allocate to the markets but for personal reasons, I will be simplifying riding the momentum in the markets via the long holdings I have at the moment, and will not be allocating into the markets today. I will still call out all of the positions I see in the HaiKhuu Discord, but I will not be forcing any positions, nor will attempt to allocate into the markets. I may miss out on some opportunities that are presented to us, but I would rather miss out than force a position and realize losses when I am not comfortable or confident. I’ll start to reallocate into the markets this week though, so be on the lookout for when I start to allocate again via active scalps and day-trades! 

HaiKhuu Proprietary Algorithm Report:

Last week was an interesting time for the newest day trading algorithm. Despite market conditions looking relatively strong, the performance of the algorithm was extremely close to being neutral. We are only watching 75 tickers now, and as a result of this, assuming you took every single position that was recommended, you’d be down 0.025%. Not a terrible week, but things could have been better.

One thing that I want to drive home with this algorithm is that it is made specifically to be cherry-picked. If you take every single position, taking a shotgun effect, you might do alright, but the move is to find the positions that are doing well, that you have confidence in, and allocate accordingly when you are comfortable and confident.

The best trade of last week was a long position on $BXP, netting us 1.74%. It was an extremely consistent trade that only continued to move up, where the exit price was almost a perfect hit on the high of the day and was perfect in every way possible.

The worst trade of last week was going long on $MPWR. We got stopped out at -2.4% downside. This could have been easily recognized, and the downside would have been limited if you had set stops accordingly on the position. Regardless, our loss limit was unfortunately hit, and numbers don’t lie, so C’est la vie.

I would take the week as a win. If you want to check out the report in-depth, check out Asher’s Report!

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, $RIVN, $BABA, $DIS, $MSFT, $AAPL, $NVDA, $SMCI

LONG OPPORTUNITIES:

  • Long-Term Dividend - $GAIN / $JEPI

  • Long-Term Investment - $KO / $BA

  • Speculative Re-Entry - $DIS / $RIVN

Economic News for 02/12/2024

  • NY Fed 1-Year Consumer Inflation Expectations - 11:00 AM (ET)

  • 3-Month Bill Auction - 11:30 AM (ET)

  • 6-Month Bill Auction -11:30 AM (ET)

  • FOMC Member Kashkari Speaks - 1:00 PM (ET)

  • Federal Budget Balance - 2:00 PM (ET)

Notable Earnings for 02/12/2024

Pre-Market Earnings:

  • monday.com Ltd. (MNDY)

  • Trimble (TRMB)

  • Alexanders (ALX)

  • Beasley Broadcast Group (BBGI)

After-Market Earnings:

  • Arista Networks (ANET)

  • Cadence Design Systems (CDNS)

  • WM (WM)

  • ZoomInfo Technologies (ZI)

  • Avis Budget Group (CAR)

  • Medpace Holdings (MEDP)

  • Qualys (QLYS)

  • Brixmor Property Group (BRX)

  • Teradata Corp (TDC)

  • Brighthouse Financial Group (BHF)

Wrap up

This should be an interesting week for the markets, so let’s practice safe risk management, but look to capitalize on any opportunities that are presented to us. These conditions are still extremely strong, so follow the general market momentum, and realize some gains in the process. Do not fight the trend, limit your downside risk, and realize some gains! 

Good luck trading this week, and let’s have some fun! 

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Highlighted Trades - 02/12/2024

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Algorithm And Portfolio Stats: 02/06/2024 - 02/09/2024