HaiKhuu Daily Trading Report

Good morning, and happy Friday! I hope you all are ready for another fun day for the general markets. $SPY is neutral at the time of writing this report, but we are displaying signs of general strength across the board as $SPY has tested the daily conversion line support again but is looking to bounce and push on support. It is too soon to say that we are in the clear, as we are still actively testing that support level, but conditions are looking both strong and optimistic at this point. Tread lightly on these conditions, but I believe there is an extremely high likelihood that market conditions are strong today and that many of us should be able to realize a significant amount of gains, either by holding strong positions or by actively scalping and trading.

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

The updated $SPY daily levels are as follows:
Conversion Line Support: $511.57
Baseline Support: $504.47
Psychological Support: $500
Daily Cloud Support: $486.59

Thoughts & Comments from Yesterday, 03/14/24

Yesterday was a tough day for the markets, with a significant amount of bearish momentum that we could have capitalized on. Most major organizations people were watching came down, but the magnificent-seven was able to keep the overall markets relatively tame.

We started the day with $SPY looking strong, opening the day at $516.96, but watched as quickly right after open, $SPY dropped to make a relative low testing $514 around 10 AM EST, meaning that $SPY dropped over $3 in the first half hour of the trading day. This was one of the quickest bearish movements we’ve seen in a while. The markets did recover slightly after the selling but were met with some general bearish momentum after the recovery, where the rest of the morning and early into the afternoon, there was a bearish trend that was difficult to capitalize on. The markets did bounce slightly at $513 in the afternoon, as $SPY went back to test the $515 point, but ultimately was shot down again during power hour.

Power hour was a confusing time for the markets as $SPY sold off to test the daily conversion line, making the official low of the day trading at $511.82, down significantly from the top, but provided us with a beautiful scalping opportunity into close. $SPY recovered nicely, recovering all of the losses that occurred during the final selling of the day, where $SPY ended the day trading at $514.95, down $1.02 from the previous close, or 0.2%, with an intraday bearish movement of $2.

It was a tough day to navigate the markets, but it did provide us with many great opportunities to both trade and realize a significant amount of gains. Conditions were difficult but many opportunities did present themselves throughout the trading day. I hope you all were able to realize a significant amount of gains and that the individuals who generated unrealized losses were minimized.

Thoughts & Comments for Today, 03/15/2024

Today is setting up to be a better day. Obviously, conditions can change on an intraday basis, but with the way the markets are going, I am expecting to see opportunities become available as $SPY bounces off of the daily conversion line. Many organizations are up during the pre-market session, which is giving me signs of confidence, but at the same time, the markets are not giving enough confidence to allocate blindly. If you are attempting to trade today, the biggest thing you can do is become a sniper and pick the organizations that you specifically believe have the highest likelihood of doing well. Obviously, this is all speculative, mostly in the markets, but allocating where you are comfortable and confident will give you a high probability of doing well in these conditions. Practice risk management because the markets can go genuinely in any direction, and it is just a matter of where we go and how many people the markets can wipe out in the process. Everyone wants the markets to go up, but that doesn’t mean anything at the end of the day.

With the way the markets are sitting, one thing that I would suggest you look into allocating into right now, is selling some 0-DTE CSPs against companies that have a high IV. Vix is elevated at this point; we are not back at the levels that make selling premium extremely profitable, but it is something that you could easily do today with minimal risk. Look for organizations that have underperformed recently and look to capitalize on the increased premium that is provided. This will be the large majority of the positions that I open today, and depending on how the premium looks, I am considering entering into $TSLA, $RIVN, and $BA CSPs, which are highly OTM that I have zero anticipation of getting assigned on. This is a little bit riskier of an allocation, but prospectively in comparison to allocating differently, this is significantly safer in my eyes.

For my allocations today, as I said just a moment ago. The large majority of my positions today will come directly from selling 0-DTE CSPs against $RIVN, $TSLA, and $BA. From these three, I will be looking to enter these CSPs around open and will be deciding on which allocations I want to make, depending on the amount of premium that is available at certain strikes. I am looking at $RIVN $10, $TSLA $160 and $BA $175. I do not know which of these contracts I will be attempting to sell, but regardless I will be opening multiple around open. I may look to scalp when given an opportunity to do so, but realistically, with the current conditions in the markets and my current capital being deployed, I am happy to simply ride the momentum in the markets and capitalize on the opportunities via my current holdings. We will see what happens throughout the day though, and I’ll scalp if there is anything that is almost hard to pass up.

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, $TSLA, $RIVN, $BA, $NVDA, $MSFT, $AAPL

LONG OPPORTUNITIES:

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

Economic News for 03/15/2024

Import/Export Price Index - 7:30 AM
Empire State Manufacturing Index - 7:30 AM
Industrial/Manufacturing Production - 8:15 AM
UMich Inflation Expectations & Sentiment - 9:00 AM

Notable Earnings for 03/15/2024

Pre-Market Earnings:

Embraer (ERJ)
Jabil (JBL)
Townsquare Media (TSQ)
Telos (TLS)
CBAK Energy Technology (CBAT)

Wrap up

This should be a fun way to end the week. Let’s watch the markets move accordingly and attempt to realize gains in the process. I am expecting to watch as we are presented with opportunities throughout the day and hopefully watch the markets rally off the daily conversion line support. This should be a lot of fun and a great way to end the week, so take advantage of the current conditions and have a great time!

Good luck trading, and let’s see where $SPY goes!

Join Our FREE Trading Community!

HaiKhuu Daily Report 03/15/2024