HaiKhuu Daily Report 06/26/2024
Good morning, and happy Wednesday! Congratulations to everyone who has been holding $RIVN with us! As a community, I am approximating the amount of profits generated to be over a million dollars last night! We’ve been talking about the organization for a while, and with Volkswagen planning to invest $5B into the organization, we are going to see an extremely interesting move in the organization over the upcoming days. I’ll talk more about my sentiments and plans for allocations later on in the report, but I just want to say congratulations again to everyone who has been holding this position with me. It has taken a while for everything to come to fruition in the short term, but I am happy that this has generated an amazing opportunity to realize a significant amount of gains!
Markets are up slightly at the time of writing this report. We are not seeing overly optimistic conditions, but $SPY is up slightly, and we will take a slightly bullish move over any form of selling off. Please be careful at these levels, as $SPY is testing the daily conversion line. There is a chance that we will watch as $SPY rejects this conversion line and sells off in the process.
Regardless, opportunities will be amongst us. It is just a matter of capitalizing on them with confidence. This is going to be an amazing day, so let’s have some fun and realize some gains!
Good luck trading, and let’s see how much $RIVN makes us!
The updated $SPY daily levels are as follows:
Conversion Line Support: $544.86
Baseline Support: $534.24
Psychological Support: $540
Daily Cloud Support: $517.55
$SPY Daily Candles - [06/25/2024]
Thoughts & Comments from Yesterday, 06/25/2024
Yesterday’s move was extremely interesting as it seems to have been a complete inverse of Monday. More organizations were red yesterday than green, but the markets still displayed a significant amount of strength and opportunity as $NVDA was a top performer and brought the markets back to life. I hope that you all were able to listen to the report yesterday because if you were able to follow along, you would have heard me consistently talking about how we believed $NVDA would have moved up as a result of the bearish movement we saw on Monday, and as expected… our prediction became true!
So we started yesterday with $SPY opening green, trading at $544.00, but watched as conditions were relatively rougher, making a slight bearish movement after open. Conditions were not overly optimistic at the time, but it did provide us all with confusing sentiment as markets looked primed to move up, but selling momentum was strong across the board. $SPY made a relative low at $543 before quickly moving back up, leading into the lunchtime lull.
Volume and conditions during the lunchtime lull were not optimistic, as we remained within an extremely tight range. Thankfully, once volume started to come back into the markets, $SPY quickly rotated and sold off almost right away. We went on to make the official low of the day, trading at $542.45. Conditions were not perfect, but it did give traders an opportunity to short from the top and an even better opportunity to go long from the bottom.
$SPY quickly moved back up after making the official low of the day and pushed continually during the back half of the trading day. We ended the day with $SPY making the official high of the day trading at $545.19, during power hour, and officially ended the day with $SPY trading at $544.83. Conditions were not perfect in any way, shape, or form, but again, we should be extremely thankful that $SPY ended the day up $2 or up 0.4%.
It was a beautiful day for the markets, with $NVDA moving up roughly 7% and the news about VW’s investment into $RIVN after hours. I hope you all were able to capitalize on the strength in the markets with us and had an amazing time in the process!
Heatmap - $SPY 06/25/2024
Thoughts & Comments for Today, 06/26/2024
Today is going to be an amazing day for many people. With $RIVN up so much, I’ll talk about that, but also general market conditions.
To start off, market conditions are in a confusing spot at the moment. There is strength and optimism for the markets to move up, but I have seen more and more cracks forming in the foundation. I am not a fan of these market conditions because we are extremely strong, but the majority of the sentiment will be driven by the movement of these mega-cap organizations. Everything will come down to the volatility of $NVDA, and which direction it decides to rip today. Please tread lightly, but know that regardless of how the majority of the markets are looking, with $NVDA being weighed so hard in all of these major indices, I’ve come to the expectation that conditions are not going to be ideal due to the inconsistencies within the representation. I am not saying I am bullish or bearish on the markets today specifically, but I am not enjoying the mixed bag of reactions, where everyone is optimistic yet skittish. Please tread extremely lightly and make sure that you are practicing safe risk management. Traders can easily and frequently get burnt in the markets as a result of the ongoing conditions, and many traders, unfortunately, are going to realize some life-changing losses given a long enough timeframe as a result of market conditions remaining in the state they are in.
If you are attempting to allocate into the markets right now, my recommendation for you is the same as it has been for a while. Look for shorter-term allocations that you can capitalize on with confidence, as attempting to allocate into many organizations long at this point is rolling the dice on an overpriced organization. There are some organizations that are underpriced right now, but as a result of the intraday volatility we are seeing, opportunities are amongst us. It all comes down to being able to capitalize on those opportunities with consistency, and it is a lot easier and more consistent to be able to predict what will happen in the markets in a short timeframe, think next 1-2/10-20 minutes, versus what is going to happen over the next 2-3 days or weeks.
We should just continue to be consistent with allocations, practice safe risk management, and capitalize on the opportunities that are presented to us.
So, let’s talk $RIVN now. I just want to start out by saying that this is an amazing time to make a profit. If you are not taking a profit, set a stop in a guaranteed profit and get out of the position. There is an extremely high likelihood that $RIVN does continue to move up as a result of this news, but at the same time, the organization has moved up heavily, only to come right back down time and time again. I am not saying that you should attempt to fight $RIVN at all, but I would highly recommend that you consider cutting your allocations now, and getting out of the position while you can, with a significant amount of profit.
Again, $RIVN can very easily move with ease, mostly after this news. I would look to attempt to play the momentum, and adjust your sentiment accordingly. If $RIVN blindly starts going on a tear, 100% let the runner run and continually adjust your stop to guarantee more and more profit on your position, but at the same time, if $RIVN ultimately sells off, assuming you took profit at the top, you are provided with an amazing opportunity to re-enter into the same position and realize a significant amount of gains in the process, while retaining your position. I know that some people are long holding $RIVN, but this is me just being 100% honest with you; this movement is amazing for the organization and has given it a short-term lift in the underlying equity price, but I do believe that this is a short term movement up. We might see a continuation of this bullish movement, but if you give the organization enough time, I think we can easily come back down to the $13-15 range. So this is NOT the time to be greedy, but this is the time to take some profits and enjoy.
For my allocations today, I will say that I am extremely exhausted after drinking… too much caffeine too late in the day yesterday, so I will not be looking to allocate or trade as much, but I still intend that the majority of my time spent today will be to find positions for you all. But, I do anticipate exiting some, if not all, of my $RIVN position today; it is just a matter of timing my exit properly when I am both happy with my return as well as believing that the movement for today is over. Again, I still do believe that $RIVN can continue to move up with ease, but I would rather take my bag of popcorn out of the microwave sooner and have some unpopped kernels than leave the bag in for a little too long and have to eat some burnt popcorn. That is my two cents about the organization, so take it with a grain of salt! I’ll let you all know in real-time when I exit the organization!
Also, just adding this in now. Please don’t attempt to buy $RIVN here to hold long in anticipation of catching this move, it is one thing if you are looking to scalp the short term; it is another if you are attempting to allocate long after the initial movement has happened.
If I see any opportunities, or if I decide to get into any other plays, I’ll announce what I see in the HaiKhuu Discord.
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, $NVDA, $MSFT, $AAPL, $GOOGL, $AMD, $INTC
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $BA
Confirmed Re-entry - $RIVN
Economic News for 06/26/2024
New Home Sales - 10:00 AM
Fed Bank Stress Test Results - 4:30 PM
Notable Earnings for 06/26/2024
Pre-Market Earnings:
General Mills (GIS)
Paychex (PAYX)
UniFirst Corporation (UNF)
After-Market Earnings:
Micron Technology (MU)
BlackBerry (BB)
Levi Strauss & Co (LEVI)
AeroVironment (AVAV)
Concentrix Corporation (CNXC)
Jefferies Financial Group (JEF)
Wrap up
This is going to be an amazing day for the markets, so let’s capitalize on the opportunities that are amongst us, realize a significant amount of gains, and have a lot of fun in the process. Traders are going to have absolutely zero issues realizing gains in the community today, so I hope that you all are excited and have been allocated into $RIVN long with us over the previous couple of months. Congratulations to everyone again for holding $RIVN with us, and let’s see where this goes by the time the markets close!
Good luck trading, and let’s see some insane returns from $RIVN!