HaiKhuu Daily Trading Report

Good morning, and happy Tuesday! Hope you all are excited for another fun day for the markets. Conditions are strong, and we watched as $SPY made a new all-time high yesterday, so it should be another great day today. Bitcoin is down at the moment, but is displaying strength as we are testing an all-time high. Theres a great chance that we make that high in the near future, which is a point of confidence both in the cryptocurrency markets, but also draws into the confidence of equities too. Just remember to be cautious, mostly with attempting to allocate into cryptocurrencies as it is an extremely volatile spot.

Let’s continue to capitalize on this confidence in the markets and have some fun, many traders are going to be able to realize a gains today, so do what you can to participate in these market conditions and have a great time in the process.

Good luck trading today, and let’s watch the markets continue to rally!

The updated $SPY daily levels are as follows:
Conversion Line Support: $508.61
Baseline Support: $498.53
Psychological Support: $500
Daily Cloud Support: $478.46

Thoughts & Comments from Yesterday, 03/04/2024

Yesterday was a confusing time for the markets. We watched as $SPY made an all time high, but watched as many organizations lagged in the process. Markets were slow and relatively uneventful, but still provided us with great opportunities to trade in the process. Hopefully you all were able to realize some gains while trading with us, and had some fun.

We started the day with $SPY trading at $512.06, down from the previous close, but watched as $SPY displayed general strength from open. Markets moved up for the first half of the trading day, continually showing strength in the markets, but really did not move much, consistently chopping around for the large majority of the day.

Organizations like $TSLA, $AAPL, and $GOOGL all have an extremely terrible time on an intraday basis, but despite this, in the afternoon we watched as $SPY quickly rallied to make the high of the day, and official all time high trading at $514.18, before quickly getting sniped back down during power hour.

We ended the day with $SPY trading at $512.30, down $0.55 from the previous close, or down approximately 0.1%, with an intraday bullish movement of $0.24. There was essentially no significant movement in the markets from an open to close standpoint, but if you look at the movement intraday, we did see nice movement in the markets within the final hour of the trading day.

Hopefully, you all were able to realize some gains with ease yesterday. Despite me not actively trading, you would have been able to realize a significant amount of gains entering into $INTC with me at open, and taking profit at almost any time during the trading day.

Thoughts & Comments for Today, 03/05/2024

Today is shaping up to be another interesting day for the general markets. Markets are down slightly at the time of writing this report, but we could very easily see a general shift in the markets by the time markets open. Conditions are displaying weakness, but with $SPY only being down slightly, there is going to be confusion by the time markets open. Selling could easily continue, or we could watch as there is a quick recovery.

I will continue to advise caution in these market conditions. We are not seeing weakness or signs of a major reversal yet, but with conditions remaining the way they are with markets remaining relatively flat, many traders are going to have difficulties actively scalping with confidence due to both chop and inconsistencies in the markets. Regardless of how you decide to navigate these market conditions, look to practice safe risk management and allocate where you have comfort and confidence doing so.

There are a couple of organizations on my radar at this moment, so look to tread lightly on these organizations, but just know they are positions I will be watching heavily. The first is $GOOG/L. We have watched Google drop approximately 10% since the top, they have had some fundamental issues recently and have dropped hard as a result of their Gemini AI-Image creation tool. Google has been lagging and hey are due for a bounce, but it is just a matter of when they start to recover. I do not know when they will recover, but it will eventually happen. The next is $RIVN, with $TSLA having major issues and have been selling off, $RIVN has dropped heavily as a result. I still am a firm believer that $RIVN in the $13-15 range is a phenomenal purchase over the course of time, so allocating here under $11 is risky as a result of their selloff, but at the same time, is an amazing place to allocate in the case you have the same bull case as I do on the organization. The final allocation that I am going to be watching, but am conflicted on in the short term is $GRYP. With BTC rallying and operations remaining optimal, there is no reason why $GRYP is actively trading where it is right now, just a couple of days ago it was trading at $3, so watching it sell off this heavily is concerning. There is the Bitcoin halving coming up here in the near future which is something that will impact them operationally, but here in the short term, with the value of BTC, this organization is highly undervalued in comparison to where they realistically should be trading at. I’ll be continually watching these three organizations, and this is a reminder that this is not financial advice nor a signal to buy or sell any equities.

For my allocations today, I plan on keeping them simple. I do not anticipate actively scalping any positions, but I am looking to enter into more $RIVN and $GRYP today. With both organizations down heavily over the previous couple of days, and being on vacation, I do not want to stress out by actively managing too many positions. I believe that this is a great dip buying opportunity, and am allocating accordingly to my personal risk tolerance. My allocations currently are extremely narrow, but deep which does increase my risk significantly as my performance in the markets will come down to how a few organizations trade. This is not something that I would recommend to the large majority, as diversification is key to risk management, but at the same time, having confidence to allocate into organizations that are undervalued in times of fear, will either be the downfall of idiot, or the success of a risk taker. Please be careful in these market conditions, and protect your bottom line.

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:

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, $GRYP, $GOOGL, $SMCI, $TSLA, $NVDA

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $KO / $BA
Confirmed Re-entry - $RIVN

Economic News for 03/05/2024

Redbook (Previous 2.7%) - 8:55 AM
S&P Global Composite PMI (Previous 52, Forecast 51.4) - 9:45 AM
S&P Global Services PMI (Previous 52.5, Forecast 51.3) - 9:45 AM
ISM Services PMI (Previous 53.4, Forecast 53) - 10:00 AM
Factory Orders MoM (Previous 0.2%, Forecast -2.2%) - 10:00 AM
Durable Goods Revised (Previous -6.1%) - 10:00 AM

Notable Earnings for 03/05/2024

Pre-Market Earnings:

NIO Inc (NIO)
Target (TGT)
Ferguson plc (FERG)
CECO Environmental (CECO)
Commercial Vehicle (CVGI)
L.B. Foster Company (FSTR)
First Watch Resturant (FWRG)
American Express Global (GBTG)
Myers Industries (MYE)
ParkOhio Holdings (PKOH)

After-Market Earnings:

CrowdStrike (CRWD)
ChargePoint Holdings (CHPT)
Ross Stores (ROST)
Nuvei Corporation (NVEI)
HashiCorp (HCP)
Nordstrom (JWN)
Box (BOX)
Cadre Holdings (CDRE)
Franco-Nevada (FNV)
LSB Industries (LXU)

Wrap up

This will be an extremely interesting day for the markets and might be an extremely profitable dip buying opportunity. Please be careful and practice safe risk management, while looking to realize gains where ever possible. Be smart and safe, but take advantage of trending organizations, and find opportunities to allocate into undervalued equities you are comfortable holding. This is going to be wild, so prepare accordingly.

Good luck trading, and let’s see what the markets have in store for us today.

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HaiKhuu Daily Report 03/05/2024