HaiKhuu Daily Report - 12/05/2024
Good morning, and happy Thursday!!! Markets are looking amazing, you’re looking amazing, and crypto is looking amazing. Bitcoin has officially smashed through $100k, and everyone should be excited (except if you slept on BTC multiple times at this point). Please continue to do what you can to capitalize on these market conditions.
$SPY made a new all-time high trading yesterday, and honestly, I do not see any reason why the momentum needs to stop. Obviously, external factors and sentiment can negatively impact the markets and general market momentum, but overall, I think that realistically, we should only continue to attempt to capitalize on the strength in these market conditions and do what we can to maximize our profit potential!
This is going to be an absolutely amazing day for the markets, so let’s have a great time, realize some gains, and have some fun!
Good luck trading today, and let’s see some NEW ALL-TIME HIGHS!
The updated $SPY daily levels are as follows:
Conversion Line Support: $597.68
Baseline Support: $5878.90
Psychological Support: $600
Daily Cloud Support: $577.98
Thoughts & Comments from Yesterday - 12/04/2024
Yesterday was a beautiful day for the overall markets. Conditions were tough to navigate prior to Jerome Powell speaking, but Poppa Powell saved the markets. We watched as conditions remained extremely strong as $SPY rallied and made a new all-time high in the process!
So, we started the day with $SPY opening at $605.66. Conditions were looking good as we opened up significantly higher than the previous close and watched as $SPY only continued to trend up in the process, making a relative high trading right above $606, looking extremely strong, but there was extremely slow momentum that was almost impossible to capitalize on until the beginning of the afternoon.
Leading into the afternoon, traders prepared for Jerome Powell to speak, but no one was expecting to see what would happen. We quickly went from a new all-time high on $SPY to dumping and making the official low of the day at $604.96 as people were preparing for Jerome. Thankfully, as he was talking, the markets reversed and rallied beautifully as conditions only continued to get better and better into the afternoon.
After watching the markets absolutely rally leading into power hour, we watched as $SPY made the official high of the day and an all-time high right before close, trading at $607.89 and looking absolutely beautiful. Conditions at the top were wonderful, and we watched as $SPY came down ever so slightly into close, officially ending the day with $SPY trading at $607.66, up $3.75 for the day, or up roughly 0.6%. I will say that market conditions were absolutely amazing, and no one should have realistically had any complaints about the general market movement of yesterday. Yes, only the major tech organizations rallied while most of the markets were asleep, but thankfully, markets made a new all-time high, and that should have reflected within your positions! So, let’s see what the markets have in store for us today and prepare accordingly for an amazing time!
S&P 500 Heat Map - 12/04/2024
Thoughts & Comments for Today - 12/05/2024
Today should be a fun time for the markets. With the strength in the markets, I do not see any reason why we should not be optimistic and excited about these conditions. I believe that many traders are going to have absolutely zero issues realizing gains today, so if you are holding strong equity positions, continue to let your winners win and simply sit back, relax, and enjoy the wonderful ride.
If you are attempting to capitalize on cryptocurrencies right now, the first thing I have to say is that you are too late. If you are attempting to allocate into the markets in these current conditions, please tread extremely lightly. All of the major cryptos have gone up significantly at this point. I am not stating that the markets are not going to continue to move up, but what I am saying is that there is a significant amount of weakness as a result of what is going on at the moment. Either you are purchasing a major crypto at an all-time high in anticipation that it continues to rally, or you are purchasing either a meme coin or shit coin and praying that it takes off. Both of these have potential, but in reality, it is one of those scenarios where you should realistically not have any problems attempting to trade or allocate, but it is now just a matter of remaining solvent and protecting yourself. Again, I am not stating that I am bearish on cryptocurrencies, as I simply am not. But it is one of those times where, if you are already in crypto, congratulations, hold your position, and enjoy the ride, but if you are attempting to get onto the train now, you’re going to take on significantly more risk than others. Do not FOMO in, and please remain level-headed with your positions. Enjoy the ride, but just be realistic with your expectations. Yes, XRP has rallied 500% in the past month. No, XRP is not going to rally another 500% in the next month.
For the normal traders that practice safe risk management and are simply just holding strong equity positions, continue to consider what you are allocating into in these conditions. There are many organizations that are heavily overvalued that have opportunities to rally, and there are heavily undervalued organizations that have the potential to rally. If you’ve been around me long enough, you know my stance on the two. It is never bad to attempt to trade one of those overvalued organizations as there will be the best intraday momentum that you can capitalize on with confidence, but I still am a firm believer that finding deep value in the markets and simply holding and allocating like that is going to be the key to your success, not only as a trader but as an investor as a whole. Anyone can gamble that a stock is about to pop up a little bit on an intraday basis and may have the confidence to enter, but it takes a different type of trader to be able to recognize an opportunity and capitalize on that with confidence. So please just practice safe risk management and be smart with your allocations.
For my personal allocations today, my same sentiment remains where I do not intend on actively trading today, but I will still be alerting positions when given an opportunity to do so. I am currently allocated to many long positions and intend on simply sitting back, holding, and adjusting those positions while I can to maximize my personal profit potential. We will see where the markets ultimately take us at this point and do what we can to make the most out of these positions!
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, $BTC, $GRYP, $DG, $INTC, $AIFF, $TSLA, $NVDA, $RIVN
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC / $DG / $SHAK / $BA / $RIVN
Economic News for 12/05/2024 (ET):
Initial Jobless Claims - 8:30 AM
Trade Deficit - 8:30 AM
Notable Earnings for 12/05/2024
Pre-Market Earnings:
Dollar General (DG)
TD Bank (TD)
Build-A-Bear Workshop (BBW)
Canadian Solar (CSIQ)
Bank of Montreal (BMO)
Signet Jewelers (SIG)
Kroger (KR)
Canadian Imperial (CM)
GMS (GMS)
After-Market Earnings:
UiPath (PATH)
Lululemon Athletica (LULU)
DocuSign (DOCU)
Samsara (IOT)
ULTA (ULTA)
Gitlab (GTLD)
Hewlett Packard (HPE)
Petco Health and Wellness (WOOF)
Victoria's Secret & Co (VSCO)
Wrap up
Hopefully, market momentum will continue to rally with cryptocurrencies. The strength in the crypto markets at the moment is extremely strong, and I do not believe there is a reason we should not attempt to capitalize on these conditions when we can. Please continue to tread lightly and practice safe risk management. Traders should all have an amazing time, so let’s see where the markets take us and make the most of these conditions!
Good luck trading, and let’s see where BTC goes today!