HaiKhuu Daily Report - 10/01/2024
Good morning, and happy Tuesday! Wow, what an INSANE September, and welcome to OCTOBER!
GET READY FOR THE SPOOKY TIME FOR THE MARKETS. Market conditions are looking strong, and I am extremely excited about what will come. If you’ve made it this far into the year, congratulations; you’ve surpassed many, and I hope you are all ready for the rest of this year. This is going to be fun as we are going into election season, so expect to see some volatility in the markets and navigate conditions, but at the end of the day, it is an amazing opportunity to realize a significant amount of gains in an extremely short period of time. The best traders are going to have an amazing time, and the luckiest of traders are going to have an amazing time.
Congratulations on making it this far into 2024! Markets are relatively neutral at the time of writing this report, but I think that the markets are setting up in a way where we can see a significant amount of movement in a short period of time. We are within range of making an all-time high again on $SPY, so tread lightly, but prepare accordingly as genuinely, anything can happen in a short period,
Good luck trading today, and let’s have a great time today!
The updated $SPY daily levels are as follows:
Conversion Line Support: $567.77
Baseline Support: $557.08
Psychological Support: $570
Daily Cloud Support: $541.90
Thoughts & Comments from Yesterday - 09/30/2024
Yesterday was one of the wildest days I’ve seen in the markets in an extremely long while. Markets did absolutely nothing until they did absolutely everything.
We started the day with $SPY looking relatively alright, opening at $570.45, down slightly from the previous close. However, we watched as $SPY slowly moved up throughout the day, remaining within roughly a +/-$1 range from open for the majority of the day.
Surprisingly enough, we were alerted that Jerome Powell was speaking, and as a result, I believe that many active traders were allocated. However, we were disappointed to find out that Jerome Powell's “speaking” was ultimately just him at a luncheon speaking as people enjoyed their lunch.
Markets dove at that time, going on to make the official low of the day on $SPY trading at $568.08, making it extremely difficult, but allocating at the bottom was one of the most insane plays we’ve seen in a while.
I alerted a $QQQ 0-DTE call entry at 2:25, which happens to be almost the absolute bottom, and watched as that position ripped up 40% almost instantly, where traders took easy profit… only to watch as the markets ripped up significantly within the final 15 minutes of the trading day. $SPY went on to make the official high of the day leading into close, trading at $574.38, meaning it rallied almost $6 from the bottom, while QQQ rallied roughly $6.
It was a wild day for the markets, with many opportunities to trade and realize significant gains. The $QQQ calls alerted rallied over 1,000% in an hour and a half, and traders could have seriously made some life-changing money in the process. I hope you all had a lot of fun and are ready for the market conditions today!!!
S&P 500 Heat Map - 09/30/2024
Thoughts & Comments for Today - 10/01/2024
Today is going to be another hectic day for the markets. People are slowly recovering from the aftermath of the hurricane, and we are starting another strike. The previous couple of weeks have been major events, after major events, after major events. Hopefully, with our East Coast ports having issues at the moment, the involved parties are going to come to a quick resolution, as I am under the assumption that the majority of the employees going on strike are happy to do so at the moment, demanding more pay, but it is all fun and games here in two weeks once those said employees have run out of money, and either give up on the strike or simply apply to work someplace else, not before dealing damage to the general economy. The strike happening in the short term does concern me, but assuming that this is resolved quickly, traders should not realistically be impacted. But the longer this is drawn out, the more people this impacts, and it is something that you should be aware of.
This strike, while it is just a normal strike, plays a massive role in the general economy, as there will be a massive trickle-down effect impacting everyone in the short term. One of the largest impacts will happen to produce and other raw perishable goods. If the strike remains for a long enough time, organizations will have to re-route shipments to either another port that is not striking or sit and wait in the void until the strike is over, risking possible spoilage and contamination in the process. Anything that happens within the transit system, either spoilage of perishable goods, lack of ability to get XYZ component or re-route ships, all comes at an expense. That expense is trickled down to the consumer, so just prepare accordingly and tread lightly.
I am sure some of you are asking why this is so significant and why am I spending time talking about this during the pre-market session. One, this is a massive strike that impacts everyone here, whether they know it or not, but secondly, this impacts the markets and many major organizations during this time. Sure, it may not impact any SaaS companies, but it will impact any organization that utilizes our east ports. So tread lightly, and do some research on any long-term investments you are considering opening right now in the case that this strike continues for the next couple of days/weeks. I do not believe that this strike will go on for a significant amount of time, but hey, everyone is entitled to their own opinion.
If you are trading, mostly as markets are starting to pick up again, please remember one massive thing to consider in these conditions is that you have to personally remain solvent and continue to adjust your strategies to capitalize on these market conditions. That means making smart financial decisions, both in and out of the markets, and realizing gains consistently in the short term. Many traders have made a significant amount of gains trading this year, and I think that things are only going to continue to become more fun going into the end of the year!
For my personal allocations today, I do not anticipate actively trading much today. I will still be watching the markets and doing what I can to find positions for you all, but for personal allocations, just know I do not anticipate trading as I will be extremely busy throughout the entirety of the day, and this is a reminder that TOMORROW, I will be leaving for a day trip to teach at the University of Missouri. If you are in the area or from around Columbia, I would happily buy you lunch while I am there!
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, $INTC, $BA, $RIVN, $AIFF, $TSLA, $NVDA, $AAPL
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC / $BA / $RIVN
Economic News for 10/01/2024 (ET):
Manufacturing PMI - 9:45 AM
Notable Earnings for 10/01/2024
Pre-Market Earnings:
Paychex (PAYX)
Acuity Brands (AYI)
McCormick & Company (MKC)
United Natural Foods (UNFI)
After-Market Earnings:
Nike (NKE)
Lamb Weston Holding (LW)
Resources Connection (RGP)
Wrap up
Hopefully, market conditions will remain strong going into the final trading months of the year. There are many talks right now about the ports going on strike, so tread lightly in these market conditions and with your personal spending. Costs may go up, and we watch as inflation goes through the roof while people are navigating these conditions alongside having to deal with the repercussions of the hurricane. Please remain safe, not only within the markets but in general!
Good luck trading, and let’s see a NEW all-time high on $SPY today!