HaiKhuu Daily Report - 10/30/2024
Good morning, and happy Wednesday! This week has been FLYING by, and we are seeing lots of movement in the general markets. $AMD got decimated with earnings yesterday, while media and communication companies like $GOOGL/$SNAP went on an absolute TEAR. This is unfortunate to see an organization like $AMD drop, as there is a negative impact against the semiconductor sector, but it’s life, as the communication companies are going to do well. This is a great sign to consider when you are looking for future allocations, as $INTC and $META have earnings this week. If you look at the earnings that happened yesterday, you can see the general trends for their respective industries, and allocate accordingly as a result.
Please continue to capitalize on these market conditions, make smart decisions, and realize some gains. Markets are strong, but people are extremely skeptical leading into the elections. Continue to tread lightly, and make sure to practice safe risk management. T-6 days until the elections!
Good luck trading today, and let’s see what the markets have in store for us!
The updated $SPY daily levels are as follows:
Conversion Line Support: $580.27
Baseline Support: $575.69
Psychological Support: $580
Daily Cloud Support: $556.29
Thoughts & Comments from Yesterday - 10/29/2024
Yesterday was a tough yet extremely beautiful day for the overall markets. Lots of bullish retail sentiment came from cryptocurrencies as Bitcoin went on to test a new all-time high! It was not able to make a new high, but it was an extremely profitable day for many, with lots of great opportunities to scalp and day trade! Hopefully, you all were able to realize a significant amount of gains and had a great time!
We started the day with $SPY dropping during the pre-market session, opening the day trading at $579.91, and going on to drop to make the official low of the day trading at $578.43. Conditions at the bottom really were not the best, but it did give us an amazing opportunity to buy the dip and watch as the markets slowly but surely rallied throughout the rest of the day. Before the lunchtime lull, markets recovered all of the losses for the day and went green again on an overall basis. Conditions only got better as the day went on, and $SPY continually chugged along, going on to make continual new highs of the day, inching closer and closer to a new all-time high.
The afternoon was rather uneventful, but it continued to provide us with some alright bullish momentum as $SPY continued to rally up, going on to make the official high of the day trading at $582.90, before selling off slightly into close, where we officially ended the day with $SPY trading at $581.77, up $0.94 for the day, or up roughly 0.15%.
I will say that conditions could have been significantly better, but I am very happy seeing that market conditions were at least favorable for us, providing us with some strong momentum and even more confidence in the crypto markets. It will be interesting to see what happens today, so tread lightly and allocate accordingly!
S&P 500 Heat Map - 10/29/2024
Thoughts & Comments for Today - 10/30/2024
Today is setting up to be another great day for the markets. I do not love the movement we have seen with $AMD, but overall, for the rest of the markets, conditions are looking strong, and traders should be excited and optimistic about these conditions. Obviously, conditions can shift, but as I have been saying, these market conditions are strong, and $GOOGL reinforced that yesterday. Traders are going to be optimistic leading into today, and I am excited to see where that takes us and to see if BTC is able to make a NEW all-time high.
There are multiple things that I am excited about today, one of the plays I am extremely excited about and interested in watching today is cryptocurrencies. With BTC within trading range of a new all-time high, it is just a matter of a countdown, in my opinion, to see BTC break out and make a new all-time high. The one thing that I do think is very interesting about Bitcoin right now is that not many retail traders are talking about it yet. So, in the case that we do see retail start to talk about crypto, that is when crypto will really start to break out. Again, I would not speculate too hard, but at the same time, I think that this is a great time to take advantage of the opportunities that are available to us. I personally am not purchasing any Bitcoin, but I am purchasing alternatives at the moment. I just purchased $XRP and $DOGE, and am considering making an allocation into $APE. I do not recommend looking into $APE, as that is a degenerate move, but if you are looking to purchase any crypto right now, I think that $XRP is one of the safest ones you can purchase in speculation of a bullish crypto move, as they have the most catalysts to break out. DOGE is a retail trading speculation, as I believe as the elections get closer, more retail will be watching the markets and allocating accordingly, so I am speculating light there. Ape, as I said, is just a straight degenerate move. Either Apecoin is either going to rally 2-300%, or it is going to drop 50%. There is no in-between, and that is why I am not purchasing any $APE at the moment. I am light in both $XRP and $DOGE. I didn’t purchase a significant amount in either, but I am in for enough, which provides me with some short-term exposure and risk while speculating on the cryptocurrency market. I won’t generate a life-changing amount of gains from this, but some easy money is some easy and free money!
An option play I am extremely interested in today is looking into selling some highly OTM CSPs on AMD. I am looking to capitalize on this play right around open, under the assumption that we will be provided with some solid premium on those near-dated expirations. I, ideally, would like to sell right outside of the expected movement range to have as little possibility of being tested, and then I want to close that position out within the first hour or so of the day for as much profit as possible.
For speculation, if you want to take on a little bit more risk, is looking into allocating into $META. With $SNAP and $GOOGL having amazing earnings yesterday, I believe that $META is going to be a great play today. I personally never advise gambling on earnings, and this is again one of those scenarios that I do not advise gambling on, but I will 100% be looking into allocating into shares of $META throughout the day as a day trade and speculation. Conditionally, things could get worse for them, but I think with the blind confidence in the markets right now and the fact that $SNAP and $GOOGL pumping yesterday, people will be looking to allocate into $META today. So keep that on your watchlist.
For my allocations today, I will say that the majority of my capital around open will be tied up into those $AMD CSPs, and any capital that is not utilized there will be allocated in and out of $META as active day trades today. Be on the lookout for those allocations. $AMD CSPs will be a “quicker” play, with the intention of closing that play out ASAP for as much premium collected as possible, while $META is going to be more scalping when given an opportunity to do so, and then attempt to hold as a day trade assuming I am provided an opportunity that I am confident in.
As always, please just continue to practice safe risk management and limit your downside risk!
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, $AMD, $META, BTC, $BA, $RIVN, $GOOGL, $SNAP
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC / $BA / $RIVN
Economic News for 10/30/2024 (ET):
ADP Employment - 8:15 AM
GDP - 8:30 AM
Notable Earnings for 10/30/2024
Pre-Market Earnings:
Eli Lilly (LLY)
Caterpillar (CAT)
Humana (HUM)
Global Payments (GPN)
Trinity Capital (TRIN)
Brinker International (EAT)
Biogen (BIIB)
AbbVie (ABBV)
Automatic Data Processing (ADP)
Bunge (BG)
After Market Earnings:
Microsoft Corp (MSFT)
Meta Platforms (META)
Coinbase Global (COIN)
Carvana (CVNA)
Etsy (ETSY)
Robinhood Markets (HOOD)
Starbucks (SBUX)
Roku (ROKU)
eBay (EBAY)
MGM Resorts International (MGM)
Wrap up
Hopefully, markets only continue to rip, but we have some massive earnings coming up today, so tread lightly, but make the most out of these conditions. Watch out for $MSFT and $META earnings after hours today, and just continue tot read lightly. We should have a beautiful day for the markets, so let’s realize some gains and have an amazing time!
Good luck trading, and let’s see a NEW all-time high on BTC today!