HaiKhuu Daily Report - 11/19/2024
Good morning, and happy Tuesday!!! Man, oh man, oh MAN. $SMCI has rallied 40% due to hiring a new auditor and submitting a plan to avoid a Nasdaq delisting. Congratulations to anyone who was caught holding that bag. It was a rough ride down, but assuming you were able to get in under the current price and rode it until now… you should have an AMAZING time! These conditions have been great, providing us with an amazing opportunity to buy the dip, and I hope you had an amazing time in the process.
This should be an exciting day for the markets. Just remember that conditions are only going to get wilder tomorrow after hours as $NVDA reports on its quarterly earnings. Opportunities are going to be amongst us across the board, so let’s make the most of it and 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: $592.02
Baseline Support: $584.03
Psychological Resistance: $590
Daily Cloud Support: $566.34
Thoughts & Comments from Yesterday - 11/18/2024
Yesterday was a beautiful day for the overall markets, with opportunities to trade and realize either a significant amount of gains or a significant amount of losses. Opportunities were consistently amongst us, but it was just a matter of being able to capitalize on the market conditions with confidence. Many traders did have a more difficult time, but others were able to realize gains with both comfort and confidence! Congratulations to anyone who was able to capitalize on the conditions yesterday!
So, we started the day with market conditions looking relatively mild. Market conditions were not great, and we were met with slightly bearish market conditions. $SPY opened at $586.24 and dropped to make the official low of the day, trading at $585.37 before starting to display general strength and rallying roughly an hour after markets opened. While the markets rallied, we went on to make the official high of the day, ripping almost 1% from the bottom, trading at $589.49.
It appeared that buying the dip worked out perfectly, and we watched as $SPY slowed down leading into the lunchtime lull and consistently hovered around $588 for the majority of the trading day. Not much occurred outside of choppy conditions, but traders had opportunities to watch as $DJT rallied towards market close on the news that they possibly might buy out the cryptocurrency platform Bakkt. Shares of $BKKT rallied from $11 to $30 on that news and are currently up 250% from that announcement.
We officially ended the day with $SPY trading at $588.15, up $2.40 or roughly 0.4%.
Congratulations to anyone who was able to capitalize on the market conditions of yesterday. It was a tougher day for the overall markets, but provided us with some consistent opportunity to realize a significant amount of gains in a short period of time, and again, even bigger congratulations to the $SMCI bagholders for printing beautifully over night!
S&P 500 Heat Map - 11/18/2024
Thoughts & Comments for Today - 11/19/2024
Today should be another interesting time for the markets. With the way that the markets have played out over the previous couple of days, I believe that traders should be optimistic and bullish in these conditions but, at the same time, should remain skeptical and skittish. Make the most of these conditions, and allocate where you have the confidence to do so, but remain level-headed with both your allocation as well as your timeframe. Buying the dip, at least at the moment, has worked out beautifully, and it appears we will continue to be that way in the short term, but many organizations are heavily undervalued at this moment, and traders should realistically have zero issues capitalizing on these conditions.
The only downside is when the markets ultimately do reverse again. I am not saying that is happening, nor do I believe that this movement is going to reverse instantly today, but this is one of those scenarios where, realistically, we have seen some weakness in the general markets, traders are confused, and do not know which direction we want to allocate. This is hilariously reaffirmed, as the fear and greed index is at a perfect neutral 50, meaning people at the moment are not fearful, nor are they greedy. So conditions are going to be in the air until we get a decisive movement on a direction, and your prediction on where we are headed is as valid as mine.
If you are attempting to capitalize on these market conditions, I think it is great that at least there are many opportunities to allocate to generate gains. The easiest of them all is going to be simply allocating long into an organization that you believe is relatively underpriced in the short term, that has solid fundamentals and provides you with an opportunity to hold with confidence. I personally just allocated into $DG and into $SHAK in my portfolio, and I do not intend on trading these, but simply holding as both are very strong organizations that have seen some downside over the previous couple of weeks.
If you do not want to attempt to allocate long, then look to scalp and follow the general market momentum. I am not the biggest fan of this organization, but $SMCI will have great momentum today as a result of the news about their new auditor working to keep them compliant with Nasdaq. This is going to be a higher-risk day trade/scalp trade opportunity, but you all have seen the momentum SMCI provides when conditions are favorable for it. So, just keep an eye on this position while attempting to trade.
For my allocations today, I do want to capitalize on these conditions, but I will say that I am a little more hesitant after the previous couple of days in the markets to attempt to be aggressive. My plan honestly is to continually add towards a long-term position and not scale into scalps/day trades as frequently today for both safety and comfort during this time.
Just continue to practice safe risk management and allocate into the markets into organizations you have confidence in!
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, $SMCI, $NVDA, $AMD, $INTC, $TSLA, $RIVN, $NFLX
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC / $BA / $RIVN
Economic News for 11/19/2024 (ET):
Housing Starts - 8:30 AM
Building Permits - 8:30 AM
Notable Earnings for 11/19/2024
Pre-Market Earnings:
Walmart (WMT)
XPeng (XPEV)
Lowe's (LOW)
Futu Holdings (FUTU)
Vipshop Holdings (VIPS)
Medtronic (MDT)
After Market Earnings:
Powell Industries (POWL)
AZEK Company (AZEK)
Star Bulk Carriers (SBLK)
360 Finance (QFIN)
Dolby Laboratories (DLB)
ZTO Express (ZTO)
La-Z-Boy (LZB)
Wrap up
Hopefully, market conditions will only continue to rally as people prepare for $NVDA earnings tomorrow. Please continue to tread lightly and practice safe risk management. Market conditions are going to be volatile, but they will provide us with some amazing opportunities to trade and realize gains extremely consistently with confidence. I am excited to see where the markets take us today, and I hope you all are, too!
Good luck trading, and let’s where the markets take us today!