HaiKhuu Daily Trading Report

Good morning and happy Friday! This has been an amazing week for the markets, and I hope you all are excited about today. I just want to start by saying congratulations to everyone who has been holding $RIVN with us from $10, $RIVN is looking extremely strong and is up significantly since we entered. It was a sketchy ride, but as a wise man once said, “But did we die?”. So congratulations to everyone again, and hopefully you all have been able to realize a significant amount of gains as a result.

Today should be a fun way to end the week. $SPY is gearing up to make another all-time high, and conditions are looking strong. All of the major economic news and events are over, and there is not much holding us back. So look to take advantage of the opportunities that are presented in these market conditions, and have some fun in the process.

Good luck trading today, and let’s end this week strong!

The updated $SPY daily levels are as follows:
Conversion Line Support: $510.32
Baseline Support: $499.85
Psychological Support: $500
Daily Cloud Support: $481.55

Thoughts & Comments from Yesterday, 03/07/2024

Yesterday was genuinely an amazing day for the markets with strength, opportunity, and for many members of the community, a significant amount of realized gains. It was an amazing day for the markets with opportunities consistently presented to us. Hopefully you were able to capitalize on the strength in the markets and enjoy the ride.

We started the day with $SPY trading at $514.81, up nicely from the previous close, and displayed strength throughout the entire morning. We did watch as $SPY dropped slightly to make the low of the day leading into Jerome Powell speaking, but despite that short term weakness, we watched as $SPY continued to rally throughout the entire morning, displaying both confidence and buying intraday. Conditions were beautiful as the rally remained until Jerome Powell finished speaking, where $SPY made the high of the day, and new all-time high trading at $515.89. It was a beautiful time with many opportunities to realize a significant amount of gains.

Towards the back half of the afternoon, we did see momentum start to drop off and selling occured, but despite this, conditions still remained optimal as $SPY eneded the day trading at $514.81, up $5.06 for the day, or up approximately 1%, with an intraday bullish movement of $1.77. It was a great day for the markets with consistent opportunities to capitalize on the general strength in the markets. Many traders realized a significant amount of gains with our plays on both $RIVN and $GOOGL, and had a great time yesterday. Congratulations again to everyone who played those organizations with us, and let’s see where the markets take today!

Thoughts & Comments for Today, 03/08/2024

Today is going to be another beautiful day for the markets. Keep your fists up because anything can happen, but let your guard down a little and look for opportunities to capitalize on the strength in the markets. I think there is again, another high likelihood that $SPY makes another all-time high today. Look to follow the momentum in the markets, and look to realize as many gains as possible. Many traders are going to have a lot of fun today, but just make sure to watch out for chop.

For the people who have been watching $RIVN with me, I’ll make a general statement about the organization. Personally, despite $RIVN moving up significantly, I still do believe there is a lot of potential with the organization in the grand scheme of things. I feel that a great load-up zone for the organization has remained in the $13-15 range, and we are now at the lower end of that range. We have been entering in the $10-11 range over the previous couple of weeks, and it has been a long ride in the making. If you have not gotten into $RIVN, it is not too late, but I will say that you have missed the majority of this initial run. We can very easily see $RIVN trend up to the $15+ range given the right opportunities including $TSLA recovering back above $200, and general EV sentiment strengthening. If you are in $RIVN with us from the bottom, I would highly suggest you look to take profit on a portion of your allocation. I would still recommend holding some exposure in the organizations, but it never hurts taking profit and remaining consistent. I still am a firm believer that given enough time, $RIVN can push heavily, back to the $50+ range, but that outlook is in the distant future and unless you are investing, is not something that you should consider anytime soon. If you are still in $RIVN and don’t know how you want to navigate, I would highly recommend you consider selling some covered calls on your equity. If you are planning on exiting, look to sell an ITM 0-DTE call, and collect slight premium on your equity versus a straight sale, and if you are holding your position, this is a great time to look to sell some highly OTM calls, and realize some extra premium while holding your position. Regardless of everything though, please consider taking profit on your equity right now. There is a high likelihood that $RIVN does continue to move up, but there also is a high likelihood that it comes down. Be smart, be safe, and don’t get greedy. Taking profit when you are happy opens up liquidity to reallocate into other positions, and puts some money in your pocket.

For my allocations today, I’m going to keep it simple, with $RIVN above my cost basis, and the fact that I’ve already taken profit on a chunk of the equity, I will be planning on selling covered calls against my remaining equity. At the moment I do not know which contracts I will sell, but they will most likely be the March & April expiration at a $15 strike. This won’t generate a significant amount of realized gains, but will be nice to simply ride and relax on that position after it has moved up. I do not anticipate actively scalping today, but I do anticipate starting to scalp again starting next week when I am back in the office. Thank you all again for letting me rest and reset over the previous week and I am excited to see what we are able to do starting fresh again next week!

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, $TSLA, $BABA, $GOOGL, $GRYP, $SOFI, $NVDA

LONG OPPORTUNITIES:

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

Economic News for 03/08/2024

Unemployment Rate (Previous 3.7%, Forecast 3.7%) - 8:30 AM
Nonfarm Payrolls (Previous 353K, Forecast 180K) - 8:30 AM
Labor Force Participation Rate (Previous 62.5%) - 8:30 AM

Notable Earnings for 03/08/2024

Pre-Market Earnings:

Algonquin Power & Utilities (AQN)
Americas CarMart (CRMT)
Genesco (GCO)
Lazydays Holdings (GORV)

Wrap up

This is going to be a beautiful day for the markets with opportunities consistently presented to us. Let’s have some fun in the process and do what we can to maximize the gains that will be generated. Make sure to follow the momentum in the markets, and realize some gains, but just note that this will be a day full of opportunities, so take advantage of it and have a great time.

Good luck trading, and let’s end this week strong!!!

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HaiKhuu Daily Report 03/08/2024