HaiKhuu Daily Report 2/22/2023
Good morning and happy Wednesday! With FOMC minutes coming out during at 2pm EST today, expect to see a lack of general momentum in the markets as we will have relatively low volume and volatility leading into the event. Things will be crazy during the aftermath, so do what you can to capitalize on the opportunities available and realize some gains in the process. Please just practice safe risk management and be extremely careful right now. $SPY is trading under $400 at the time of writing this report, which is a sign of weakness in the market.
Be careful trading today but make the most out of all the opportunities available. Good luck today!
Thoughts & Comments from 2/21/2023
Yesterday was a tough day for the general markets with a substantial amount of slow bearish momentum throughout the entire day. We started the day with $SPY trading at $403.09 at open, down from previous close and showing a significant amount of relative weakness. We went on to move up ever-so-slightly at open, where we did make an official high trading at $404.15, before starting what was an absolutely disgusting downtrend in the markets.
We continually downtrended for the rest of the day, showing zero signs of confidence as we continued to make new official lows of the day. We dropped down significantly, to the point where we were actively testing $400, and once $SPY broke $400… we unfortunately continued to fall. We made our official low of day with $SPY trading at $398.82, showing little to no relative confidence in the general equities market.
With $SPY trading under $400, we officially closes the day with $SPY trading at $399.09, down $8.17 or roughly 2%. It was an extremely tough day for the general markets if you were long in the process of everything, but realistically, this was very predictable and was bound to happen eventually. I believe that this is not the bottom yet and that we can continue to fall as people are still optimistic in the markets.
Hopefully you all are hedged accordingly and are able to capitalize on the opportunities that are currently available to us to play this bearish momentum. Great job to anyone who followed me in those $SPY 400 April puts!
Thoughts & Comments for Today 2/22/2023
Today will be an extremely interesting day as a result of FOMC minutes coming out at 2 PM EST. As I stated before, expect a general lack of momentum in the markets leading into economic news. I do expect to see a significant amount of selling and bearish momentum at the moment, with FOMC being the only opportunity we have to save the general markets in the short term.
If FOMC does create some bullish momentum, it will unfortunately only be short term and will provide us with an opportunity to fake out the optimistic traders and burn them all again.
We are still in greed on the fear and greed index, but we are heading to neutral sentiment. There is still room for us to come down as a result of the lack of fear. This is a double edged sword. Traders will either have an opportunity again to see some significant movement up in the case FOMC creates confidence in the markets, or as a result of FOMC, and external news, we will continue this bearish trend to the point where people lose confidence in the markets and we watch as $SPY continued to come down as we reach the fear state.
As I have said before, I personally am anticipating watching the markets continue to bleed throughout the rest of the month with my two largest allocations right now being cash, and holding puts on $SPY waiting for us to continue to come down. My puts are now officially in the money and I am not looking to allocate into any general equities in the short term until we reach a point of weakness and fear in the markets, where I am able to enter with confidence. I do not anticipate day trading much in the short term and honestly I am looking at many alternate assets at the moment (Not Crypto) where I have significantly more confidence than the general equities markets.
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 tough day for the algorithms but as warned, these are not the right market conditions to be actively attempt to go long, but assuming you practice safe risk management, set stops in guaranteed profit and realize gains early, you will have many opportunities to realize a significant amount of gains in the process of everything.
The results of yesterday are as followed:
Sector Neutral 0.18%
Market Neutral 0.07%
Variable Sector Neutral -0.14%
Variable Market Neutral -0.36%
Long Term Portfolio -0.51%
Base Algorithm -0.89%
The Market -0.98%
Please be careful taking any of these general alerts until the end of the month. This is not due to a lack of confidence in our systems, but a lack of confidence in the general consistency of the markets. Cherry pick the positions you believe will do the best, and make sure to set stops in guaranteed profit.
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 , $GOOGL, $TSLA, $BABA, $NVDA, $BA , $MSFT , $AAPL
Free Equity List:
Safe - $SPY
Risky - Don’t play anything risky.
Position Opportunities:
Wait with cash to allocate at the relative bottom
Watch for the markets to dump, and realize gains on your active hedges and bearish positions in the markets
Set stops in guaranteed profit for any position you have
Enjoy watching traders freak out while you are peacefully relaxing with your bearish positions & active hedges.
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN
Economic News for 2/22/2023
FOMC minutes - 2 PM ET
Notable Earnings for 2/22/2023
Pre-Market Earnings:
TJX Companies (TJX)
Baidu (BIDU)
Stellantis NV (STLA)
Garmin (GRMN)
Targa Resources (TRGP)
Charles River Laboratories (CRL)
Brink's Company (BCO)
Constellium NV (CSTM)
iQIYI (IQ)
Wix.com (WIX)
After-Market Earnings:
Nvidia (NVDA)
Pioneer Natural Resources (PXD)
eBay (EBAY)
ANSYS (ANSS)
Extra Space Storage (EXR)
Lucid Group (LCID)
Coterra Energy (CTRA)
Unity (U)
Etsy (ETSY)
Mosaic Company (MOS)
Wrap up
Overall, please be careful trading not only today, but for the rest of the month. With FOMC minutes coming out at 2pm, with no real expectations, this could be the catalyst to keep the bearish momentum which will result in us continuing down over the next couple of days.
Please practice safe risk management and limit your general exposure.
Good luck trading today, and please be safe!