HaiKhuu Daily Report 03/04/2024
Good morning, and happy Monday! Hope you all had a wonderful weekend and are excited about this week. Market conditions are strong as $SPY is continuing to make all time highs. Markets are looking phenomenal and opportunities are plentiful. Look for opportunities to capitalize these strong market conditions.
Look to follow the general market momentum and ride this trend. The markets have consistently presented us with opportunities to follow trending organizations and realize gains with ease, so simply follow the trends, capitalize on the strength in the markets, and realize some gains!
Many traders are going to do phenomenally this week, so do what you can to increase your profit potential, and look to minimize risks!
Good luck trading today, and let’s see what this week has in store for us!
The updated $SPY daily levels are as follows:
Conversion Line Support: $503.42
Baseline Support: $498.08
Psychological Support: $500
Daily Cloud Support: $578.46
$SPY Daily Candles - [03/01/2024]
Thoughts & Comments from Last Week
Last week was a fun week for the market with $SPY continuing to make new all-time highs. Conditions were phenomenal with consistent opportunties to trade. Many traders had an amazing time with $SPY continuing to rally, and many traders were able to realize a significant amount of gains. It was a great week and provided traders with consistent opportunities. Hopefully, you were able to realize a significant amount of gains in the process and had fun trading!
We started the week with $SPY trading at $508.30, looking relatively strong, but market conditions were weak as we consistently sold off until Tuesday afternoon where we made the official low of the week trading at $504.75. Conditions were continually neutral through thursday, with some opportunities to trade, but nothing that provided us with significant confidence or opportunity. $GOOGL dropped heavily on news about Gemini having issues with their image creation ai-tool, and we watched as organizations like $TSLA, $NVDA, and $RIVN do absolutely amazing in the process.
Thursday is where all of the fun started in the markets. We started the day up significantly as a result of economic news, with $SPY opening at $507.99, and watched as the intraday movement was slightly bearish and uneventful. Despite the weakness we saw in the markets, after the lunchtime lull, we watched as the markets rallied beautifully, where within the final minutes of the trading day, we watched as confidence increased heavily. Conditions were phenomenal and we were able to watch $SPY come up to test the all-time high. It was all fun and games though as seconds after testing that high, $SPY went on to sell off heavily within the final five minutes of the trading day. We ended Thursday with $SPY trading at $508, absolutely black on an intraday standpoint, but this provided the markets with the confidence it needed to rally significantly on Friday.
Friday was a beautiful day for the markets with a significant amount of general bullish momentum, with $SPY consistently making new all time highs. We watched as $SPY opened the day slightly up trading at $508.95, and displaying confidence throughout the entire day. $SPY continually ran throughout the entirety of the day, continually making highs. We watched as $SPY made the high of the day, and new official all time high trading at $513.28, before ending the week trading at $512.85. Friday was a beautiful way to end the week, and caused a significant amount of confidence in the process.
Markets moved up roughly 1% throughout the entirety of last week, and made a new all-time high on Friday. Hopefully, you all were able to capitalize on the strength in the markets. Market conditions were phenomenal in the back half of the week and provided us all with some great opportunities. Hopefully you all were able to realize gains with us and have a great time!
Heatmap - $SPY 03/01/2024
Thoughts & Comments for Today, 03/04/2024
Today should be a fun day for the markets. With the strength in the current market conditions, there is an extremely high likelihood that we see $SPY made a new all-time high. My sentiment in the markets still remain the exact same as they have been previously. I would highly suggest that everyone look to capitalize on the opportunities that are presented to us, and look for an opportunity to ride the momentum in the markets. I would not advise anyone to be overly bearish, mostly while there is significant strength in the markets, and I would attempt to simply follow the opportunity. Everyone should be able to realize gains with ease not only today, but until there is a shift in the general market momentum. It would not surprise me in the case that markets start to come down here in the near future, but conditions are strong for now, and there is no reason to attempt to fight this market momentum. Simply ride this wave, and look for organizations that are trending. There will be laggards that underperform, and there will be many organizations that will do phenomenally. Look to trade the organizations that are trending, and simply follow the momentum.
One trending organization that I would suggest you look to play today is $SMCI. With news that they are joining the S&P500, there is an extremely high likelihood that the continue to trend during the trading day. I would not advise to be overly aggressive with this allocation as conditions are strong, but there is a significant amount of risk allocating here. We have already seen it move up roughly $120 since the announcement happened on Friday, and we are nearing it’s all-time high. There is an extremely high likelihood that it continues to push, and realistically should make an all-time high, but it is just a matter of being able to allocate with confidence, and time out your position properly. Many individuals who are attempting to allocate now will have difficulties with both. I do believe that $SMCI is overpriced, mostly trading at these highs. But despite us trading at these highs, I do believe that they can continue to move up. I do not advise anyone to attempt to short $SMCI, despite them being overvalued, and I would not advise you to allocate heavily into $SMCI. Simply look to follow the market momentum, and have a great time in the process.
For my allocations today, I plan on keeping it simple, I am looking to allocate into semiconductors as a result of this SMCI news. I believe that semiconductors are going to do well in sympathy to SMCI, so I want to capitalize on the opportunity. I do not anticipate on allocating directly to SMCI as a result of the risks that are involved with allocating after the movement has happened, but I am looking to allocate to organizations like $INTC and $AMD. These positions will not move up as heavily as SMCI, but will be significantly more passive. I do not anticipate on actively scalping this entire week, but I will call out opportunities that I see when I see them.
If I decide to get into any other plays and see opportunities, I’ll announce what I see in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
The results of February’s trade bot have been finalized. On an overall basis, assuming you took every single position, you would have realized an overall loss of 0.9%. This is not an ideal situation, but this is assuming that you took every single position that was alerted blindly, and followed all of the parameters. We do suggest that you cherry pick all of our positions and find the ones that you are the most comfortable and confident allocating into. We are working on upgrading our algorithm in the short term though, with Asher working directly with Fred to increase the general success rate of the algorithm, and have been getting great feedback on the upgrades we’ve made. So it will be fun watching to see how everything plays out, and how everything improves in the near future.
Here are the biggest winners and losers from last month.
Best trade we made last month was a long position on MPWR, netting a return of 2.87% overnight, while the best intraday return was a long position on $ALB, netting 2.13% intraday.
Our best short was a position on $ENPH, where we net 1.91% on an intraday basis, and provided us with a phenomenal play.
The worst play of the entire month was a long position on $ALB. Looking at the allocation, we net a loss of 4.56%, but as a trader looking at this analysis, I can see that the position was a clear fake out after its entry, and losses would have been minimized if taken.
Overall, I am conflicted about the performance of the algorithm. I am extremely happy and confident in what we’ve done, and I am extremely excited to see what happens here in the future with this system, but I will not be at a point of confidence until I know that statistically, you can literally use this system as a confirmation for blind entry. That is the point we are working on getting towards with development, and it is just a matter of time before we get to that point.
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, $SMCI, $INTC, $AMD, $NVDA, $GRYP, $RIVN, $TSLA, $AAPL
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $KO / $BA
Confirmed Re-entry - $RIVN
Economic News for 03/04/2024
3 -Month Bill Auction (Previous 5.255%)- 11:30 AM
6 -Month Bill Auction (Previous 5.130%)- 11:30 AM
Notable Earnings for 03/04/2024
Pre-Market Earnings:
Sea Limited (SE)
Global Ship Lease (GSL)
Sohu. com (SOHU)
After-Market Earnings:
GitLab (GTLB)
Paymentus Holdings (PAY)
Semrush Holdings (SEMR)
Crescent Energy (CRGY)
Science Applications International (SAIC)
AeroVironment (AVAV)
Northwest Pipe Company (NWPX)
Stitch Fix (SFIX)
ThredUp (TDUP)
ContextLogic (WISH)
Wrap up
This will be an extremely fun week for the markets with many opportunities presented to us. Look to realize gains quickly, but at the same time, be smart and safe in the process. Many traders are going to have an amazing time, but it is just a matter of how many gains will be realized in a short period of time. Practice safe risk management, follow the trend, and be smart with your allocations.
Good luck trading, and let’s see a new all-time high on $SPY!