HaiKhuu Daily Report 06/27/2024
Good morning, and happy Thursday!
This week has been absolutely FLYING by, and I hope you all have been enjoying this wonderful time. Market conditions are strong, opportunities are amongst us, and we are loving these conditions!
The placement we are seeing is likely to result in a large directional move in the markets, so be on the lookout. I think we should be optimistic, as $SPY is trending above the daily conversion line resistance, but we have not broken out yet. Just remember that we are at the low end of fear despite being within 1% of trading at an all-time high.
Watch out for the movement in $NVDA today before judging your positions. This should be an extremely fun time; it is just a matter of capitalizing on the strength in the markets to realize a significant amount of gains in the process. So, follow the momentum in the market and let’s realize some gains!
Good luck trading, and let’s see where the markets take us!
The updated $SPY daily levels are as follows:
Conversion Line Support: $544.86
Baseline Support: $534.24
Psychological Support: $540
Daily Cloud Support: $518.01
$SPY Daily Candles - [06/26/2024]
Thoughts & Comments from Yesterday, 06/26/2024
Yesterday was an extremely confusing day for the overall markets. We saw a slight bullish movement, but conditions were extremely choppy and difficult to navigate consistently. Many traders had a difficult time capitalizing on the movement, but at the same time, opportunities were presented to us!
We started the day with $SPY opening down roughly $1, trading at $543.64. Conditions were not perfect from the get-go, but we did watch as $SPY displayed some bullish momentum early in the morning, almost going green again for the day, before quickly snapping back leading into the lunchtime lull. Conditions were not great leading into the lunchtime lull, as $SPY went on to make the official low of the day, trading at $543.04.
Thankfully, after making the official low of the day, $SPY was able to break out, rallying from the bottom to make a relative high, trading around $545.50.
After the breakout, though, conditions were not ideal, as, throughout the majority of the afternoon, $SPY continually hovered relatively black for the day, not displaying much confidence nor fear but making conditions extremely slow and choppy. Things did shift leading into power hour, as $SPY dropped leading into power hour, and conditions were not great, but we watched as once $SPY bottomed out for the day, we rallied within the final ten minutes of the day, where $SPY went on to make the official high of the day trading at $546.23, and ended the day trading at $545.51. Conditions again were not absolutely perfect on an intraday basis, but at least we ended the day up from open and up slightly from the previous close.
I do not think the majority of traders who attempted to allocate into the markets were able to realize any significant gains, but anyone who was riding the EV hype of the $RIVN / Volkswagen deal, you would have had an amazing time. Congratulations to everyone again who was able to realize a significant amount of gains with us on $RIVN, and let’s see what today has in store for us!
Heatmap - $SPY 06/26/2024
Thoughts & Comments for Today, 06/27/2024
Today is setting up with some relative strength during the pre-market session. With the way the markets are looking right now, $SPY is actively testing the daily conversion line, and is showing general strength at this time. I would not be overly bullish, but I would remain optimistic about these conditions, understanding that there are many opportunities amongst us, and traders are ready and want the markets to move up. I would not attempt to fight this trend in the markets, but I would suggest that, realistically, follow the momentum. There’s a chance that we do sell off and see a bearish movement, and there is a chance that the markets absolutely go on a tear from here. I want to be optimistic, and it seems that the markets are too. So please take this with a grain of salt, but know that realistically, we can very easily see a large directional move in the markets.
Please just protect your bottom line and practice safe risk management, but look to take advantage of the momentum and opportunities that are in the markets. There is no reason why the markets should be in a place where we are not attempting to capitalize on the strength in the markets.
On top of everything going on in the markets. I’ve had a lot of questions asked to me about my $RIVN position. I’ve officially exited Rivian and have absolutely zero position in the organization anymore. I still believe that, in the long term, this is an amazing organization with a significant amount of potential, but it is just a matter of taking profits while they are available and looking for new opportunities to re-enter and allocate. I’ve had many people ask me what are my personal plans for re-entry and where I would suggest buying. I do legally have to say that this is not financial advice nor a signal to buy or sell any positions, but this is where I will be looking to re-enter
Range 1: $13-15/Share - Enter into your position slowly towards the top end ($15) and continually scale in as you get lower in the range
10-25% Total Allocation
Range 2: $10-13 - Add deeper once in this range and scale in quicker, double down, and get towards full position
50% Total Allocation
Range 3: $10 - Perfect target range. This is where I would want my full position to buy and hold for the indefinite future
100% Allocated
Range 4: Below $10 - Start to purchase leaps on the organization
This is just the price range that I will be looking at for a re-entry into the organization. I highly recommend scaling in if you are attempting to purchase as a result of the downside risk that is involved with this organization. We can see some extremely large movements in either direction. It is just a matter of managing that risk and exposure and scaling in slowly to get the best price possible. I would not force any position once we get within the range, and it is ideal if you are purchasing at the lower end of each range. I would love to own shares of $RIVN again at $10, it is just a matter of waiting for the entry, and getting down to that level. I don’t think that, realistically, we are going to see the $10 entry today or tomorrow, but I am just being realistic with the position, where it can get down to that level. But seeing $RIVN back down to $10-13 in a short period of time, in my opinion, is something that is not unrealistic. So please tread lightly and understand the downside risk that is involved with attempting to allocate here!
For my allocations today, I do plan on having more time to actively trade and work on lots of things for the Discord. I’ll be watching positions throughout the day and doing what I can to assist you all in finding some solid opportunities to scalp and day trade throughout the day. Again, I think that we are going to see a larger directional move in the markets, with some choppy conditions, so please again, be careful but do what you can to maximize your potential and realize as many gains as possible!
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, $NVDA, $RIVN, $TSLA, $AMD, $GOOGL, $MSFT, $AAPL
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $BA
Exited: $RIVN
Economic News for 06/27/2024
GDP QoQ Final - 8:30 AM
Initial Jobless Claims - 8:30 AM
Durable Goods - 8:30 AM
Pending Home Sales - 10:00 AM
Notable Earnings for 06/27/2024
Pre-Market Earnings:
Walgreens Boots Alliance (WBA)
McCormick & Company (MKC)
Acuity Brands (AYI)
Simply Good Foods (SMPL)
Apogee Enterprises (APOG)
Lindsay Manufacturing (LNN)
After-Market Earnings:
Nike (NKE)
Accolade (ACCD)
American Outdoor Brands (AOUT)
Wrap up
This should be another fun day for the markets. Let’s watch out for the opportunities that are presented to us and do what we can to maximize our profit potential. Follow the momentum in the markets, practice safe risk management, but look to maximize your potential for profits. There's a chance we see $SPY break out, so be optimistic, and let’s have an amazing day!
Good luck trading, and let’s see what $SPY does today!