HaiKhuu Daily Report 02/15/2024
Good morning, and happy Thursday! Hope you all have been capitalizing on the beautiful bounce we’ve seen in the markets and are ready for $SPY $500 again! This has been a beautiful dip-buying opportunity and was extremely easy to spot. $SPY is up at the time of writing this report, and we are inching closer and closer to $500, recovering from a harsh sell-off. Many opportunities are going to present themselves in these current conditions, so let’s hope that $SPY continues to break out and we see a new all-time high on $SPY this week!
One interesting thing I want to talk about is possibly reallocating into Chinese equity, I’ll talk about this later on in the report.
Good luck trading today, and let’s watch $SPY break out!
The updated $SPY daily levels are as follows:
Conversion Line Support: $496.87
Baseline Support: $486.69
Psychological Support: $500
Daily Cloud Support: $468.96
$SPY Daily Candles - [02/14/2024]
Thoughts & Comments Yesterday, 02/14/2024
Yesterday was a beautiful day for the markets. We bounced off the $SPY daily conversion line and were able to watch as confidence came back into the markets. It was almost impossible to lose money while trading yesterday, and we were presented with some extremely strong market conditions. It was difficult navigating the markets, and many traders got burnt, but there were many opportunities to allocate throughout the day, and generate gains with ease!
We started the day with $SPY looking exceptionally strong, trading at $496.70, up significantly from the previous close, and we displayed weakness right at open, which was quickly bought back up. We made a relative high trading right under $498 before the markets started to come back down, where $SPY made the official low of the day trading at $494.41 during the lunchtime lull. This was an amazing buying opportunity though as $SPY pushed up nicely in the afternoon.
During the afternoon, we watched as there was consistent bullish momentum as $SPY pushed with some bullish momentum, dropping down slightly leading into power hour, and watched as $SPY rallied into the end of the day. All of the losses that were generated intraday were recovered, and $SPY made the official high of the day in the final minute of the trading day, trading at $499.06. We ended the day with $SPY trading at $498.57, up $4.49 for the day, or up approximately 0.9%, with an intraday bullish movement of $1.87.
It was a phenomenal day to look to buy the dip as many organizations rallied and recovered extremely nicely after the sell-off we saw on Tuesday. Hopefully, you all were able to catch the dip and ride the momentum with ease. Let’s see what the markets have in store for us today, and enjoy the process!
Heatmap - $SPY 02/14/2024
Thoughts & Comments for Today, 02/15/2024
Today is going to be a fun day for the markets. As we inch closer and closer to $500, this is going to provide us with a great opportunity to simply ride the market momentum. I talked about this yesterday, but I am significantly more confident in allocating long in the markets, and riding the momentum, versus attempting to scalp and trade. Yes, scalping and trading will allow you to capitalize on opportunities in the markets, but realistically, is going to limit the amount of gains you will be able to generate in the case that markets continually trend. I would not be overly ambitious and only attempt to allocate where you are comfortable and confident doing so, but there are many deep-value organizations that I’ve allocated into over the previous couple of days.
The organizations I’ve found, are higher risk and more speculative, but in the case everything works out perfectly, I will be in a good spot. I have recently allocated back into Chinese equities and $RIVN. Both have been underperforming recently and are presenting phenomenal opportunities to allocate with the appropriate amount of risk. Chinese equities have been an extremely high-risk play over the previous year as organizations like $BABA are down over 30% while $AMZN, is up 69% in the same time. We have seen China start to invest in their equities, which is a sign of fear that they have to intervene, but is one of the many safety buttons that they can press to help stimulate their markets. I want to capitalize on this opportunity that China is presenting, so I have gone long $BABA, $BIDU, and $FXI, and have also purchased leaps on $BABA. $PDD is another great organization, but I am biased and hesitant to allocate there as there is a massive underlying risk of Temu (Pronounced Teh-Moo) being banned from the US, but is an amazing powerhouse that has been driving revenue to $PDD.
The other organization I have entered more into is $RIVN. I have only purchased a couple more leaps on $RIVN and will be looking to allocate into equity soon. $TSLA has been coming down recently and as a result that has negatively impacted other equities, but has provided us with an amazing load-up opportunity on $RIVN. I am still bullish on them as an organization and believe that a phenomenal buying opportunity for them is between $13-$15 a share. It would be most optimal to grab them at the lowest price possible, but I want to scale into this equity slowly, mostly leading into their earnings on the 21st. The expected move on $RIVN is $2 for earnings, which at this point is a phenomenal range in my opinion. Either we watch as $RIVN gets to the lower end of our entry range, and buy more, or we are allocated at the upper end of the current trading range, and realize gains after a significant movement up. Either way, I am extremely excited about these earnings and already have a game plan prepared regardless of the direction.
For my allocations today, I will continue to look for opportunities to allocate into the markets, but I have already allocated a sizable portion of my available capital into both China and $RIVN. Hopefully, these positions provide me instant gratification and we watch as they both move up nicely, but I do not have the intention of selling them in the short term, and am not too concerned about the active performance. $RIVN is a play I can hold, but am anticipating exiting when I have an opportunity to do so, and I want to watch as China pumps its markets. I’ll look for opportunities to scalp and trade throughout the day, but that will not be my main priority.
I’ll let you all know in real-time when I start entering in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm 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, $RIVN, $BABA, $BIDU, $FXI, $NVDA, $SMCI, $AMD, $TSLA
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $KO / $BA
Speculative Re-Entry - $DIS / $RIVN
Economic News for 02/15/2024
Jobless Claims - 8:30 AM (ET)
Export/Import Price Index (MoM) - 8:30 AM (ET)
Retail Sales - 8:30 AM (ET)
NY Fed Manufacturing - 8:30 AM (ET)
Philly Fed Business Index - 8:30 AM (ET)
4-Week Bill Auction - 11:30 AM (ET)
8-Week Bill Auction - 11:30 AM (ET)
Fed’s Waller Speaks - 1:15 PM (ET)
FOMC Member Bostic Speaks - 7:00 PM (ET)
Notable Earnings for 02/15/2024
Pre-Market Earnings:
Crocs (CROX)
Deere & Company (DE)
PBF Energy (PBF)
Wendy's International (WEN)
PENN Entertainment (PENN)
YETI Holdings (YETI)
Oatly Group AB (OTLY)
After-Market Earnings:
DraftKings Inc (DKNG)
Roku (ROKU)
Coinbase Global (COIN)
Trade Desk (TTD)
Applied Materials (AMAT)
DoorDash (DASH)
Agnico-Eagle Mines (AEM)
Bloom Energy Corporation (BE)
Opendoor Technologies (OPEN)
Wrap up
This is going to be an extremely fun day for the markets, let’s capitalize on the opportunities that are being presented to us, realize some gains in the process, and have a great time. I think many traders are going to realize gains with relative ease today, so now it is just a matter of capitalizing on the momentum in the markets and being both consistent and profitable in the process. Make sure to practice risk management, but look to realize gains while the opportunities are available!
Good luck trading, and let’s watch $SPY break out!