HaiKhuu Daily Report 2/24/2023
Good morning and happy Friday traders! Markets are relatively insane at the moment so I hope you all have been able to capitalize on the momentum. We saw a significant movement in the general markets yesterday and are looking relatively weak at the time of writing this report. $SPY has been actively testing $400, and has shown no significant signs if we are going to break down or break out, but the general momentum still shows there is a higher probability that we break down and continue coming down over the upcoming weeks.
Please practice safe risk management and capitalize on all of the opportunities that are presenting themselves in these current market conditions. As despite this bearish sentiment, there will be many great opportunities to trade and realize some gains.
Good luck trading today and let’s make some bank!
Thoughts & Comments from 2/23/2023
Yesterday was an extremely interesting day for the markets filled with both volatility and momentum. We saw some major bearish and bullish movements that could have made traders a significant amount of gains, or made traders watch as they lost in both directions. Hopefully, you all were fluid in the process and were able to realize some gains in the process.
$SPY started the day trading at $401.33, showing relative strength as a result of a highly successful $NVDA earnings report, propping the markets up. We watched as $SPY moved up quickly after open, and making the official high of day at $402.19.
Despite the relative confidence that was in the markets, that confidence quickly slowed down as the markets almost instantaneously shifted its confidence and showed relative weakness. Once rejecting the high of the day, $SPY continued to have a significant sell off over the next two hours where we made the official low of day at $396.25. With roughly a 1.5% drop from the top, we watched as traders started to get tense and worry about the markets. Thankfully, we did recover from the bottom with an extremely quick V shaped recovery.
For the final four hours of the trading day, we went from people losing confidence in the general markets to testing the $400 resistance level, breaking above and making a relative high around $401.42. It was an insane run on the markets that I am assuming the majority of traders did not expect.
We ended the day with $SPY trading at $400.66, up $2.12 or approximately 0.53%, with an intraday movement of -0.22%.
It was a tough day for the general markets but provided us all with an amazing opportunity to realize some gains both to the bullish and to the bearish side.
Hopefully you all capitalized on the opportunities presented to you and are ready for today!
Thoughts & Comments for Today 2/24/2023
Today should be a fun day for the general markets. I believe that the majority of traders who will be attempting to scalp today will either make a significant amount of realized gains as a result of an increase in volatility today, or will lose a substantial amount as a result of over trading.
Please practice safe risk management, do not FOMO into any plays and do not let your emotions get the best of you.
This is not the time to try and be greedy with your gains. Take what you can get an be happy about it as the average trader is realistically having a tough time in the markets right now and is losing on the way down, and getting emotional when they sell for a loss and watch the markets come back up.
We are still in greed on the Fear and Greed index. There is still a lot of room for us to come down in the markets. My personal range has remained the same in the relative short term. I am expecting to see $SPY in the low $390’s, high $380’s range in the short term, and if people act irrationally, we could watch as the markets drop even lower than that.
I personally am in three large positions right now. The largest position I am in is cash, I am holding a significant amount of cash in anticipation of allocating into the markets when we hit a relative bottom, the next is $SPY puts, where I can capitalize on this bearish momentum in the markets, and the last is my $AMC CSP’s. I do anticipate taking off both sets of puts soon. $AMC I will ideally take off when I realize approximately 50-60% more of the remaining premium, and anticipate taking my $SPY puts off at the end of the month. I will hold my $SPY puts in the case that the market continue to sell off, where we are in the mid $380’s range by the end of the month. If not, I anticipate exiting them on either Monday the 27th or Tuesday the 28th. I am starting to look into allocating into strong equity positions in the short term, one position I am extremely interested in at the moment is $GOOG/L. $GOOG/L in the mid $80’s range is an amazing allocation I can hold with relative confidence. Be on the look out for when I start entering that position. I will not be actively day trading today, but be on the look out as here in a couple of days, as I will start scalping again.
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 interesting day for the markets. Unfortunately our systems underperformed due to the market conditions. Our results were in line with the markets and did not provide us with many opportunities to realize gains. The neutral strategies performed extremely well, with the Market Neutral portfolio remaining relatively neutral throughout the whole day.
The results of yesterday are as followed:
Baseline:
$SPY: -0.22%
Our Results:
Market Neutral: -0.07%
Sector Neutral: -0.23%
Variable Market Neutral: -0.25%
Variable Sector Neutral: -0.28%
Long Term Portfolio: -0.31%
Base Algorithm: -0.35%
For today, please again, as I have been warning in the past, protect your bottom line and be extremely careful taking on any of these alerts in the short term. I am expecting to see many opportunities for profitability from these alerts today, but am almost certain that if you blindly enter into these alerts, that you will unfortunately lose money in the process. This is not due to a lack of confidence in our systems, but due to a lack of confidence in the market.
Cherry pick the positions you believe will do the best over the span of the next week and make sure you practice safe risk management by setting a stop on your position, moving that stop up to guarantee profits and realizing gains when given an opportunity to do so.
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 2/24/2023
Consumer spending (nominal) - 8:30 AM ET
Personal income (nominal) - 8:30 AM ET
PCE index - 8:30 AM ET
Core PCE index - 8:30 AM ET
Core PCE (year-over-year) - 8:30 AM ET
New home sales - 10 AM ET
Consumer sentiment (final) - 10 AM ET
Notable Earnings for 2/24/2023
Pre-Market Earnings:
Canadian Imperial Bank (CM)
Evergy (EVRG)
Fomento Economico (FXM)
HF Sinclair (DINO)
Lamar Advertising (LAMR)
Frontier Communications (FYBR)
Chart Industries (GTLS)
Balchem Corporation (BCPC)
PNM Resources (PNM)
Brady Corp (BRC)
Wrap up
Overall, please be safe today, there is a lot of economic news coming out that will heavily impact the markets and cause a significant amount of turbulence. Please practice safe risk management and realize some gains when given an opportunity to do so.
Good luck trading today, and have a great weekend!