HaiKhuu Daily Trading Report

Good morning, and happy Thursday!!! Markets look phenomenal, and I hope you all are feeling great! $SPY has continued to rally irrationally, and traders have realized significant gains as a result. We’ve continued to make new all-time highs; now it is a matter of whether this momentum can continue.

Please continue to trade to your heart’s content in these market conditions and do what you can to maximize your profitability at this time. We are going to see a correction and sell-off eventually. But that time is not now, so continue to tread lightly and allocate accordingly.

Traders should have fun while attempting to trade, not only today but tomorrow, too. So have a great time, but just make sure to practice safe risk management and tread lightly. Maximize your gains, ride this momentum, and do NOT fight this trend!

It will be a lot of fun seeing where the markets take us today!

Good luck trading, and let’s see another all-time high on $SPY

The updated $SPY daily levels are as follows:
Conversion Line Support: $552.10
Baseline Support: $542.14
Psychological Support: $550
Daily Cloud Resistance: $520.50

Thoughts & Comments from Yesterday, 07/10/2024

Yesterday was an absolutely BEAUTIFUL day for the overall markets that provided traders with some confusion and hesitancy but beautiful bullish momentum that generated a significant amount of realized gains. I hope you all had a wonderful time and realized gains!

We started the day with $SPY opening at $557.13. Conditions were not looking the best, but opportunities were genuinely amongst us at that time. $SPY was looking strong—we just made a new all-time high—but there was confusion in the air about how people wanted to allocate, mostly leading into Jerome Powell’s testimony.

The morning was relatively uneventful. Conditions looked great, but we genuinely saw confusion. People wanted the markets to come down, but the markets wanted to rally up. We remained indecisive until Jerome Powell finished his testimony, and as a result, as predicted, $SPY rallied.

Predicting the rally was not difficult. The only things that were genuinely surprising were the amount of momentum we were able to drive and how bullish the markets looked.

$SPY continued to rally throughout the entire afternoon, continually making a new high of the day, after making a new high of the day. Conditions were strong, people were optimistic, and markets looked absolutely phenomenal.

We continued to make NEW all-time highs throughout the rest of the day, going on to make the official high trading at $561.67 before the markets officially closed the day trading at $561.32, up $5.50 for the day, or up approximately 1%. It was genuinely an amazing day for the markets, with a significant amount of strength and opportunity. Life is good, markets are better, and I hope you all have been able to realize a significant amount of gains in the process!

Thoughts & Comments for Today, 07/11/2024

Today is going to be a lot of fun to trade. Markets are extremely strong, we have broken out to uncharted territories, and $SPY has continued to make new all-time highs. I do not want to be a Debby downer and talk about the weakness we see in the markets, but just know that is something that you should keep in the back of your mind while trading, mostly if you are attempting to take on some risk in the markets. But, for now, momentum is strong, opportunities are amongst us, and traders feel confident. Take advantage of that confidence, and do what you can to maximize your profit.

The one thing that I do need to bring up, though, is practicing safe risk management in these conditions. I do not believe that traders understand the amount of risk that they are taking on with allocating heavily into highly out-of-the-money option contracts, believing that they are only spending $10 per contract, so the worst case scenario is you only lose $10. Yes, you are correct, you can only lose $10 per contract, but if you are buying 10-50-100 contracts, the value adds up quickly, and you can see significant losses generated in the same time. Imagine allocating $1,000 into ABC Corp, markets get a little bit touchy, and equity drops 5% on Friday, you lose $50 on your equity position, and go to sleep not stressing knowing that worst case scenario is you are down $50 and move on with your life. This, versus looking to actively trade options, you get $1,000 worth of highly OTM 0-DTE contracts, and that same 5% drawdown happens, where your contract continues to remain OTM and expires worthless, you lose 100% of your position, and now instead of resting peacefully, being down only slightly, you’re eating ramen noodles and asking your mom if your old room is still available.

I am not saying that everyone who trades options or plays risky options does not know what they are doing or the risks involved with trading, but hopefully, for all of those reading this report or having it read to you in the discord, one of you now realizes the amount of risk and exposure you are taking on as a result.

Please, just be smart. Opportunities are going to be constantly amongst us. Trading is not a sprint but a lifelong marathon. If you have to walk a couple of miles to keep moving forward, it is better than starting off trying to sprint, only to hinder yourself a half mile in and drop out of the race.

Markets are going to be phenomenal, though, so continue to take advantage of these market conditions and do what you can to maximize not only your profit potential but also limit the amount of risk and exposure that you are holding onto at this moment. Some people will be able to capitalize on this momentum with ease and realize significant gains, while the majority of traders, given a long enough timespan, will have a rough time. Please be smart and safe while attempting to trade today, and do what you can to maximize your profit potential.

If I see any opportunities or 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, $INTC, $NVDA, $AAPL, $TSLA, $MSFT, $META

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $BA

Economic News for 07/11/2024 (ET):

Jobless Claims - 8:30 AM
Consumer Price Index (CPI) - 8:30 AM
Real Earnings MoM - 8:30 AM
Fed’s Bostic Speaks - 11:30 AM
Fed’s Musalem Speaks - 1:00 PM
30-Year Bond Auction - 1:00 PM
Federal Budget Balance - 2:00 PM

Notable Earnings for 07/11/2024

Pre-Market Earnings:

PepsiCo (PEP)
Delta Airlines (DAL)
Conagra Brands (CAG)

After-Market Earnings:

No Earnings Scheduled

Wrap up

Hopefully we watch as the markets continue to rally for our sake over the next couple of trading days, this momentum is looking phenomenal, it is just a matter of continuing the trend while it is possible. Many traders should realize some significant gains, so make sure to practice safe risk management, but at the same time, do what you can to maximize your profit potential. This is going to be a fun day, and this is gonna be a fun way to end the week. So realize some gains, and have an amazing time!

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

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HaiKhuu Daily Report 07/11/2024