HaiKhuu Daily Report 3/03/2023
Good morning and happy Friday! I hope you all are having an amazing morning and have some fun plans for the weekend. Markets have done phenomenally and are consistently moving up during this pre-market session. Please be careful as we are nearing the $400 resistance level on $SPY again, and it appears that the chop is only going to continue in the short term. Capitalize on the opportunities that are available to you to actively trade in the markets, but do what you can to limit the amount of general risk and exposure that you are taking on.
It is extremely risky to attempt to trade this chop, and it will be very difficult. So do what you can to limit your downside risk and take advantage of the trades you can take at the moment.
As it is Friday and market conditions are relatively optimal for trading today, I will recommend that you look into selling some highly OTD 0-DTE CSPs to collect extra premium on the capital you are not utilizing at the moment.
An extremely risky play you can take today, that I will NOT recommend you take, is selling 0-DTE CSPs on $SI, Silvergate is a crypto bank that has fallen significantly in the previous couple of days as a result of news that they are at the brink of failure. Many funds are pulling out their capital, and there is a high likelihood that this goes under. I will say that I personally will be selling these contracts today and already have sold some other CSPs. I will be looking to take advantage of the high premium those put contracts will provide and understand the risks of this position. There is a solid chance that this company goes to zero, I am just betting on the idea that it is not going to happen by market close.
If you have any questions on this play, feel free to ask in the HaiKhuu Discord - Link: https://discord.gg/haikhuu
Thoughts & Comments from 3/02/2023
Yesterday was a beautiful day for the markets, with a significant amount of bullish momentum that you could have capitalized on. Market open was relatively rough and choppy with some general bullish momentum despite opening down for the morning. We opened the day with $SPY trading at $392.70 and watched as we slowly moved up throughout the day. The first four hours really did not provide us with much momentum, but towards the end of the day is where we saw some significant movement in the greater markets.
Right before 2 pm EST, we started to quickly break out and create a significant amount of bullish momentum. We went on to see a new high of the day close to the end of the day. We made an official high of the day with $SPY trading at $398.68, not officially testing the $400 resistance level yet, but is getting close to the point where we should be able to test it again very soon.
We ended the day with $SPY trading at $397.81, up $3.07 for the day or approximately 0.78%, with an intraday bullish movement of +1.27%. It was a great day for the general markets and provided us all with an amazing opportunity to trade and realize some gains in the short term. Hopefully, you all were able to capitalize on the movements of yesterday and made some bank!
Thoughts & Comments for Today, 3/03/2023
Today should be a fun day for the markets to end the week strong. There is confidence in actively trading today in comparison to the previous week. We are finally at neutral in the Fear and Greed Index, which is a positive sign for people who are actively attempting to scalp & day trade. More people are starting to lose general confidence in the markets and are looking to sideline themselves in the short term and not make many positions, which will give traders a great opportunity to make smart positions at a relatively low cost.
If you are trading today, as always, practice safe risk management and limit the amount of general exposure that you are taking on, but seize the opportunities that are available today. There will be many trading opportunities that should be easier to predict and play both to the upside and downside. Just look out for technical analysis in the short term, as the markets have been respecting technical analysis recently.
For the investors, sit back and start to find positions that you want to add to and start light. I believe we are going to see more downside soon, giving you a great opportunity to watch a position and average in accordingly with confidence, knowing you made the right position.
Please be careful if you are swing trading here, I do not see a lot of room for relative confidence in this market, as like I’ve been saying, there will be more downside soon. It will be difficult to buy, hold, and sell stocks in the short term. Finding a play that will perform in comparison to the general markets will be tough, and timing out your entries to optimize your position will be even tougher. Make sure to set stop losses, respect your limits, and make sure you are sizing properly.
Regarding those 0-DTE CSPs I brought up earlier, just remember that they are risky, and I do not recommend them to the majority of traders as a result of the general risks involved, but if you want to disregard my disclaimer, just make sure to safely allocate and practice risk management. You are not looking for a home run here. You are looking to allocate wisely and make some free money. Take the base hit and enjoy the general profits you are able to accumulate slowly with this strategy.
Be smart and make sure to always be learning. We are hosting an options education class this SUNDAY at 1 PM CST. I would highly recommend you tune in and listen to Mike, our COO/Quantitative Options Analyst, teach an introduction to options course.
Use this link to RSVP to our FREE options class (March 5th, 1 PM)
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 base algorithm, with a significant amount of generated profits coming directly from $NVDA. The base algorithm outperformed $SPY slightly, while the other systems are performing as expected, if not better. Great job to anyone who has been taking these $NVDA plays in the short term; they are working exceptionally well!
The results of yesterday are as followed:
Baseline:
$SPY: +1.27%
Our Results:
Base Algorithm: +1.28%
Long-Term Portfolio: +1.05%
Variable Sector Neutral: +0.88%
Variable Market Neutral: +0.47%
Sector Neutral: +0.02%
Market Neutral: -0.12%
To get an in-depth analysis of the performance of our Algorithms, check out Asher’s Report!
Please be careful taking any general alerts in these market conditions. Markets should perform prospectively better as there is more confidence going into the new month, but as a result, I want to warn you all to be careful of the general market consistency at this point.
Cherrypick your favorite positions that you believe will outperform and realize some gains when given an opportunity to do so. Set stop losses and increase those limits to guarantee some profits!
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 3/3/2023
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 , $RIVN, $BABA , $TSLA , $NVDA , $F , $GOOG/L , $AAPL
Free Equity List:
Safe - $SPY
Risky - $RIVN
Position Opportunities:
Start allocating slowly into the markets
Invest in smart positions that you have confidence in
Start taking profit on shorts & hedges
Start DCA-ing in positions you want to hold over the course of time.
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN
Long-Term Riskier EV Play - $RIVN
Economic News for 3/03/2023
S&P Services PMI Final - 9:45 AM ET
S&P Composite PMI Final - 9:45 AM ET
ISM services - 10 AM ET
Dallas Fed President Logan speaks - 11 AM ET
Atlanta Fed President Bostic speaks - 11:15 AM ET
Fed Gov. Bowman speaks - 3 PM ET
Notable Earnings for 3/03/2023
Pre-Market Earnings:
Stereotaxis (STXS)
Hibbett Inc (HIBB)
Oncolytics Biotech (ONCY)
CLPS Inc (CLPS)
inTest Corp (INTT)
Rapid Micro Biosystems Inc. (RPID)
Wrap up
Overall, please be smart and safe while trading today. Look to sell some 0-DTE CSPs and capitalize on the IV on $SI. There will be a lot of volatility in the general markets today, so please watch for your bottom line and make sure that you are limiting your downside risk potential. Go kill it today and take advantage of all the opportunities that are available, and let’s have some fun!
Good luck trading today, and have an amazing weekend!