HaiKhuu Daily Trading Report

Good morning, and happy Friday! Hope you traders are excited about the weekend and are feeling great! Markets are down slightly at the time of writing this report but are continuing to display general strength above the daily conversion line support/resistance level. I hope you all have been watching the general market momentum because this has been an extraordinarily choppy and confusing time, with fantastic opportunities to trade with confidence. We have economic news coming out during the pre-market session, which will ultimately dictate the direction in the markets and the overall sentiment of the day, so prepare accordingly and take advantage of the opportunities that are presented to you.

Continue to watch the daily conversion line resistance, as that will be the level many traders will be watching throughout the day.

Let’s have some fun today and end this week strong!

Good luck trading, and let’s have a great time!

The updated $SPY daily levels are as follows:
Conversion Line Support/Resistance: $456.50
Baseline Support: $443.11
Strong Psychological Support: $450
Daily Cloud Support: $431.44

Thoughts & Comments from Yesterday, 12/08/2023

Yesterday was a confusing time for the markets, providing us with opportunities to trade and many more opportunities to FOMO into. We watched as many organizations rallied an insane amount, including $GOOG/L being up more than 5% on news about their AI model, $AMD rallying almost 10%, and many other opportunities to trade and realize gains.

We started the day out with $SPY moving up during the pre-market session, and opening up nicely green above the previous close, opening at $456.77. Markets were relatively slow for the first hour of the day but moved up significantly afterward. We went on to test $458 after the first hour and continued to remain relatively neutral around that point until there was weird movement in the markets, as $SPY quickly dove during the lunchtime lull, making a relative low but having an extremely quick V-shaped recovery.

Once the markets recovered, we continued to hover around that $458 resistance level, slowly moving up in the process but continuing to have slight bullish momentum into the afternoon.

Right before power hour, $SPY did make the official high of the day, trading at $458.89, looking relatively strong in the process and continued to provide traders with a fantastic opportunity to realize a significant amount of gains.

$SPY did come down slightly into close, where the large majority of the gains, thankfully, were retained, but it was just a matter of capitalizing on the movement we saw in real-time and taking advantage of the opportunity.

We ended the day with $SPY trading at $458.23, up $3.47 for the day, or up approximately 0.76%, with an intraday bullish movement of +0.29%. It was a great day for the overall markets which led to a significant amount of realized gains in the process. I hope you all had fun trading yesterday and were able to generate a significant amount of gains. If you followed either of my $AI CSP entries, you would have been able to net a 40% return in an extremely short period of time.

Let’s see what the markets have prepared for us today, and let’s end this week strong!

Thoughts & Comments for Today, 12/08/2023

Today should be another fun day for the markets. At the time of writing this report, $SPY is down, and economic news has not come out yet, but with the way that the markets sit, I am expecting a significant amount of chop and difficulty in the markets that would make trading extremely inconsistent and difficult to manage but will provide us with many opportunities to trade and realize gains in the process. I would continue to advise practicing safe risk management in these market conditions, but I would also look to take on some smart risk and allocate where you have comfort and confidence at this point.

This is the time to look for opportunities to actively trade, as despite the inconsistencies in the markets, there are many great opportunities to trade and realize some gains in the process.

I still do not feel comfortable allocating long in these market conditions, nor would I personally recommend that anyone look to allocate long into some of these higher beta tech organizations, as I believe that many of them are still highly overpriced and need to come down before you should enter, but if you are actively scalping and day trading in the markets, there is going to be significant movement in many of these organizations that could provide you with an amazing opportunity to simply ride the momentum in the markets.

One play you should consider is looking into selling some 0-DTE CSPs. These will not net you with any sort of significant realized gains, but it will provide you with easy gains on capital you are not utilizing today. Some organizations that will have elevated premium today are $AI and $GME. I already have exited my $AI CSPs, but I will be looking to get into more today if the opportunity presents itself.

The one thing I would highly recommend you continually watch out for in these market conditions is the daily conversion line support. This level has continually been tested over the previous week and, realistically, is going to continue to be tested in the near future until there is a definitive movement in either direction. Until this happens, continue to tread lightly on these market conditions.

For my personal allocations today, I am not looking to make many allocations, but there is an organization that I have on my watchlist that I do NOT recommend anyone get into unless you are willing to take on a significant amount of risk. One of the members of the discord brought up $GDHG on my radar. This is going to be an intraday day trade, where I am not going to be allocating heavily, but it is going to be an opportunity to scalp. Again, this is an extremely high-risk play, but I am looking to enter with the mindset of a possible bounce scalp opp, as this organization has fallen 80% on the previous day on the note of a short report. This is an organization I, again, DO NOT RECOMMEND YOU ENTER, and if you are attempting to play the scalp, this is 100% a play-and-pray type of allocation. I repeat, this is an absolutely terrible organization, and outside of these trading conditions, I would never advise anyone to take this play, but for a risky day trade opportunity, there is a high chance of this organization moving up. Make sure to define your risk, and take positions off as quickly as possible to realize some gains.

If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.

HaiKhuu Proprietary Algorithm Report:

Yesterday was an alright day for the systems. The base algorithm performed in line with $SPY, underperforming by 0.02%, and the algorithm was able to outperform the long-term portfolio by a smaller margin. The results of yesterday don’t build a significant amount of confidence, but I am happy to see that in tough market conditions, the algorithm was able to perform in line with the performance of $SPY.

The results of yesterday are as follows:

Baseline:

$SPY: +0.29%

Our Results:

Sector Neutral: +0.28%
Base Algorithm: +0.27%
Variable Sector Neutral: +0.26%
Long Term Portfolio: +0.21%
Variable Market Neutral: +0.15%
Market Neutral: -0.06%

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.

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, $QS, $RIVN, $DIS, $F, $NVDA, $MSFT, $AAPL, $GDHG*

Position Opportunities:

Trade the market momentum
Take profit on positions
Limit your downside risk
Hedge your positions
Consider getting bearish exposure

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $KO
Long-Term Auto Sector - $F
Speculative Re-Entry - $DIS / $RIVN

Economic News for 12/08/2023

Employment Report/Rate - 8:30 AM ET
Hourly Wages - 8:30 AM ET
Consumer Sentiment - 10:00 AM ET
University of Michigan Inflation Expectations - 10:00 AM ET

Notable Earnings for 12/08/2023

Pre-Market Earnings:

Hello Group (MOMO)
Johnson Outdoors (JOUT)

Wrap up

This should be a fun way to end the week; let’s make sure to practice safe risk management, take advantage of the opportunities that are presented to us, and realize some gains in the process. Make sure to take on some smart exposure in these conditions and take profits when you are happy. Lots of traders are going to have a difficult time navigating these conditions with confidence, so make sure you are making good positions, and taking profits accordingly.

Good luck trading today, and let’s end this week strong!

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HaiKhuu Daily Report 12/08/2023