HaiKhuu Daily Trading Report

Good morning, and happy Tuesday! Wow, Monday was a terrible way to start the week, but let’s see if market conditions are better today. I hope you all are doing well and are ready for what should be another interesting time for the markets. $SPY is back above the daily conversion line, which is a sign of short-term confidence, but as I said yesterday about short-term confidence, one day of general movement is not enough to justify overall sentiment. Tread lightly on this movement back up, but know that we are in a place of continued confidence in the markets, and the fact that we reclaimed the conversion line support is a great sign. Look to take advantage of the opportunities that are presented to us, watch the momentum, and look to realize gains wherever possible.

Good luck trading today, and let’s see what today has in store for us!

The updated $SPY daily levels are as follows:
Conversion Line Support/Resistance: $511.57
Baseline Support: $503.76
Psychological Support: $500
Daily Cloud Support: $483.11

Thoughts & Comments from Yesterday, 03/11/24

Yesterday was a gross day for the overall markets. There were opportunities to trade, and many people were able to capitalize on the markets, but the majority of the individuals had a difficult time realizing gains with confidence. Hopefully, you all were able to realize gains while attempting to trade yesterday.

We started the day with $SPY looking a little weak, opening the day trading at $510.47, down from the close on Friday, and watched as the markets displayed weakness from open. $SPY dropped to make the official low of the day, trading at $508.52 right after 10 am EST, and proved to be a wonderful time to load up on equities at the bottom.

The markets did recover during the back half of the trading day, where $SPY went on to slowly move up during the afternoon, pushing slowly and remaining choppy in the process. We did watch as $SPY made the official high of the day leading into power hour, trading at $511.88, before coming back down slightly into close. We ended the day with $SPY trading at $511.28, down $0.44 from the close on Friday, or down approximately 0.09%, with an intraday bullish movement of $0.81. It was definitely an interesting time, with us also announcing an allocation into both $TSLA and $BA.

It was a tough day for the markets that was difficult to navigate with confidence, but it provided us with consistent opportunities to scalp, allocate, and realize gains. Hopefully, you all were able to enjoy the ride and realize some gains in the process. Markets were tough, but we remained consistent and had a great time.

Thoughts & Comments for Today, 03/12/2024

Today should be a better day for the markets with opportunities being presented to us. As I said before, $SPY is back above the daily conversion line, which is a sign of confidence, but just remember that any time there is short-term confidence, you should continue to tread lightly. Look for opportunities to capitalize on these market conditions, but be smart and safe in the process. We recently just allocated back into some larger cap organizations for a long hold, and you should be extremely careful allocating in these current market conditions. There are going to be many opportunities to trade with confidence, but at the same time, many traders are going to have an extremely difficult time remaining consistent in these conditions. Markets are looking strong, and there is consistent opportunity, but it all comes down to finding the right organization, allocating at the right time, and remaining both comfortable and confident at the same time.

The biggest thing you should be looking out for in these market conditions is just making sure that you are practicing safe risk management. Many more people are going to realize losses in these conditions than realize gains, and it is unfortunate that I am saying that, but that is the reality of these market conditions. I would expect to see that markets remain strong, but individual organizations display weakness. It would not surprise me to see many of these major tech organizations that are overpriced continue to come down while few large-cap organizations retain the market strength. Snipe the winners and limit the downside risk as much as possible. Allocating correctly into organizations you have both strength and confidence in will result in consistent opportunities that are presented to you.

Two organizations that I have allocated into, that I would highly consider you look into in these market conditions are $BA and $TSLA. Both allocations are light with the ability to average in heavily, 4x on $TSLA and 5x on $BA to get up to normal sizing. The reason I have allocated back into both of these organizations is as a result of them underperforming heavily in the short term, with lots of potential to move up. My price target for both of these organizations with time is $200. Both of these organizations, in my opinion, are undervalued and are organizations that I anticipate holding here for a short period of time to ride the strength and momentum in the markets. $TSLA has some short term fundamental issues they are dealing with, and $BA has operational issues that they are dealing with, both of which are going to provide us with some great opportunities to realize gains, assuming they recover quickly. Just something to put on your radar and have some fun in the process with.

For my allocations today, I do anticipate looking for opportunities to scalp in these market conditions, but I do not want to be overly aggressive as a result. I am worried more so about the longevity of this short-term confidence and am allocated to the markets with the anticipation that conditions remain strong, but I do not want to be in a place where conditions weaken with time, and I am overly ambitious in the process. I will continue to look for opportunities to attempt to buy value in the markets despite most organizations being heavily overpriced at this point. If I see anything interesting or that I decide to enter into, I’ll announce it in real time 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, $TSLA, $BA, $RIVN, $GOOGL, $NVDA, $AMD, $SMCI

LONG OPPORTUNITIES:

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

Economic News for 03/12/2024

Consumer Price Index (CPI) - 8:30 AM
Redbook - 8:55 AM
10 Year Note Auction - 1:00 PM
Federal Budget Balance - 2:00 PM

Notable Earnings for 03/12/2024

Pre-Market Earnings:

On Holdings (ONON)
Kohl's (KSS)
Hagerty (HGTY)
International Game Technology (IGT)
Lifetime Brands (LCUT)

After-Market Earnings:

Clover Health (CLOV)
Beauty Health (SKIN)
Phunware (PHUN)
Allbirds (BIRD)
360 Finance (QFIN)
Purple Innovation (PRPL)

Wrap up

This is going to be a fun time for the markets, with many opportunities being presented to us, mostly with this short-term strength coming back. Let's watch for the markets to continue to rally and capitalize on this confidence. Continue to tread lightly, but look to realize as many gains as possible. This should be a good time with many opportunities, so be smart and be safe, but at the same time, look to have some fun in the process.

Good luck trading, and let’s see where the markets take us today!

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HaiKhuu Daily Report 03/12/2024