HaiKhuu Daily Report 11/29/2023
Good morning, and happy Wednesday! Markets are looking strong during the pre-market session, and $SPY is up nicely at the time of writing this report. This could be a sign of a bounce and continued bullish momentum, but please be careful and cautious, as the sentiment right now is great. But we will get a GDP revision at 8:30 AM EST, which ultimately will be what is the deciding factor of market conditions, direction, and general sentiment.
Hopefully, the markets will continue to move up as a part of this process, but general sentiment will be difficult to gauge accurately prior to the GDP report.
Please continue to tread lightly on these market conditions, practice safe risk management, and take advantage of the opportunities that are available to us in these market conditions.
In secondary news, if you are holding both $F and $GM, congratulations; both of those organizations are up nicely during the pre-market session, and I’ll talk about my exit plan for these organizations later in the report.
Good luck trading today, and let’s have a great time!
The updated $SPY daily levels are as follows:
Conversion Line Support: $452.49
Baseline Support: $433.03
Strong Psychological Support: $450
Daily Cloud Support: $435.74
$SPY Daily Candles, Continued Bullish Momentum - [11/28/2023]
Thoughts & Comments from Yesterday, 11/28/2023
Yesterday was a crazy day for the overall markets that was extremely difficult to capitalize on with complete confidence but was filled with some amazing opportunities to trade, realize gains, and have a great time. Hopefully, you all were able to kill it yesterday because yesterday was extremely fun and was one of the most exciting days I’ve had in a while.
To start the day off, $SPY opened the day trading at $454.11, trading under the previous low of $454.48 and looking relatively weak. We dipped right at open, where $SPY went on to make the official low of the day, trading at $453.50 and testing many people’s confidence in the process. Despite testing confidence though, $SPY was able to bounce nicely and generated a significant amount of confidence extremely quickly.
$SPY rallied after making the official low of the day, pushed through the lunchtime lull, continually making new highs of the day, and officially peaked as volume started to come back into the markets. The official high of the day was $SPY $456.26 and was a great sight to see after four days of terrible market conditions.
We did watch as $SPY dropped in the back half of the trading day but watched as there were many great opportunities to trade the bearish momentum in the process. $SPY quickly went from the official high of the day to drop over the next hour as people were watching the results of the different bond auctions, which caused a confusing couple of minutes in the process. Right at 1 pm EST, we watched as $SPY quickly dropped for a split second and caused VIX to spike from $12.75 all the way up to $14.30, and I personally watched as 0-DTE contracts that I loaded up on at $0.04 an hour prior, explode, and go from $0.06 to then trade at $0.25 for a matter of two minutes. That was an absolutely crazy time and an amazing opportunity to sell for anyone who was in any 0-DTE puts from the top.
After that spike, market momentum was slow but slightly bullish as we watched as $SPY recovered during the back half of the afternoon. There was no great momentum, but in comparison to the hype that was generated in an extremely short period of time, we all were relaxing and enjoying the great vibes of these market conditions.
Once the markets closed for the day, we ended the day with $SPY trading at $454.93, up $0.45 for the day, or up roughly 0.1%, with an intraday bullish movement of +0.18%, which does not seem like much, because it is not, but at the same time, there were many amazing opportunities to realize a significant amount of gains and capitalize on the opportunities that were available to us.
Let’s see what the markets have in store for us today and continue to realize some gains in the process. This has been one of the best months we’ve seen in a long time, so let’s keep printing gains.
Heatmap - $SPY 11/28/2023
Thoughts & Comments for Today, 11/29/2023
Today looks like it will be an absolutely wild day for the markets, with the potential for us to hit new 52-week highs on $SPY. As I have been saying, I would not advise being overly bullish or bearish, mostly as the markets have continued to push over the previous month, but I would practice extreme caution if you are attempting to allocate long into equities at this point. Many organizations are highly overvalued, where yes, there is still upside potential if market conditions are favorable, but we still are in a place that, despite market conditions being strong, does not provoke a significant amount of upside confidence as many of these equities are highly overpriced, specifically, $NVDA and many of these mega-cap organizations. $MSFT continues to make new all-time highs, which does provide us with confidence in the short term, but it is difficult to confidently want to allocate into organizations like $NVDA at these highs.
All of the market sentiment and momentum will be driven specifically by the GDP report that comes out during the pre-market session, and I would advise significant caution if you are attempting to allocate prior to the report coming out. Once the report is out, there is enough time for the markets to stew during the pre-market session for us to justify any sort of sentiment and direction.
These market conditions are extremely favorable for individuals who are attempting to actively trade and realize gains in the short term as you will not have any overnight exposure, and you are able to capitalize on the short-term momentum that is available. People who look to take risks in these conditions will be provided with tough conditions but will provide you with a significant amount of gains or complete losses in the short term. Be careful if you are attempting to take on risk, and make sure the exposure you take is within your risk parameters.
Please just follow the market momentum today and practice safe risk management. I would still highly consider adding hedges to your portfolio, mostly if you are up a significant amount, or at least consider taking profit on some of your equities that are up significantly over the previous month.
For myself personally, I have already exited a significant amount of equities that are in my portfolio and have 100% exited my current $DIS position. With both $F and $GM up significantly during the pre-market session, I am making game plans on how I plan to exit that equity while realizing some gains in the process. I’ve already started to exit some of my $GM position. My game plan for $GM, at the moment, is splitting up the position in three lots. The first lot is a simple equity sale, which has already occurred during the pre-market session. The next two lots will be exited in the form of selling premium. I anticipate selling both ITM and OTM CC’s on the equity that is remaining. Half of the position will be sold right above my cost average in an ITM call, where I either get called away at my strike but am awarded a premium on top of the current price that I’d sell my shares at or the ability to retain the profits that are currently available and retain my equity, and the other half of the equity will be sold in OTM CC’s that will provide me with an opportunity to continually collect premium assuming that market conditions remain favorable and allow me an opportunity to continually collect premium on the shares that I am retaining, and collect dividends in the process. I do not anticipate exiting my $F anytime soon, but if $F gets back to the $11.50 - $12 range, then the sentiment will change and will adjust at that point.
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Yesterday was a great day for the algorithm. We beat out $SPY by a nice margin yesterday as a result of $TSLA outperforming significantly in comparison to the general markets, which generated a significant amount of realized gains. We are excited to see our live test results come back soon and will keep you all updated on the algorithm and its general sentiment.
The results of yesterday are as follows:
Baseline:
$SPY: +0.18%
Our Results:
Base Algorithm: +0.35%
Variable Market Neutral: +0.22%
Long Term Portfolio: +0.12%
Market Neutral: +0.1%
Variable Sector Neutral: -0.17%
Sector Neutral: -0.3%
DISCLAIMER - This is not financial advice. Utilize these trades with caution. These predictions are generated via our proprietary trading algorithm without taking into account market conditions, news, or any external biases. This is not a signal to buy or sell any equities, and we do not guarantee success. Take these at your own risk.
Algorithmic Alerts for 11/29/2023
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, $GM, $F, $NVDA, $TSLA, $MSFT, $DIS*
Position Opportunities:
Trade the market momentum
Set stops in a guaranteed profit
Limit your downside risk
Hedge your positions
Consider getting bearish exposure
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DIS* / $DG* / $KO
Long-Term Auto Sector - $F / $GM*
Economic News for 11/29/2023
GDP (2nd Revision) - 8:30 AM ET
Advanced Wholesale Inventories - 8:30 AM ET
Fed’s Mester Speaks - 1:45 PM ET
Fed Beige Book - 2:00 PM ET
Notable Earnings for 11/29/2023
Pre-Market Earnings:
Foot Locker (FL)
Dollar Tree (DLTR)
Farfetch (FTCH)
Petco (WOOF)
Nordic American (NAT)
Bilibili (BILI)
Hormel Foods (HRL)
Donaldson Co (DCI)
After-Market Earnings:
Snowflake (SNOW)
Salesforce (CRM)
Okta (OKTA)
Synopsys (SNPS)
Pure Storage (PSTG)
Five Below (FIVE)
Victoria's Secret (VSCO)
La-Z-Boy (LZB)
Wrap up
This will be an extremely interesting day due to the current market placement and GDP revisions coming during the pre-market session. Be cautious and tread extremely lightly on these market conditions, but look to maximize the opportunities that are available to us right now. I am extremely excited to see what happens today and even more excited to see what happens soon. Keep killing it in these conditions and have a great time in the process.
Good luck trading today, and let’s make some BANK!