HaiKhuu Daily Report 3/06/2023
Good morning and happy Monday! Hope you traders are all feeling amazing, well-rested, and hyped to trade today! We have Jerome Powell speaking not once but twice this week, so expect a significant amount of volume and volatility. He will be testifying to the senate tomorrow, Tuesday, 3/7, at 10 am EST, and will be testifying again to the house on Wednesday, 3/8, at 10 am EST.
Please be careful if you are actively trading today, tomorrow, and Wednesday, as there will be a significant amount of unprecedented volatility with the possibility of us crashing heavily in the relatively short term. In the case the markets receive JP’s comments positively, expect to watch the markets go absolutely insane.
There will be many opportunities to trade this week, so take advantage of the opportunities that are available and realize some gains in the process of everything. Good luck this week, and let’s make some bank!
Thoughts & Comments From Last Week
Last week was an interesting week for the general markets. There was a significant amount of bearish momentum throughout the week until the markets started to take off with signs of relative confidence. We started the week with $SPY trading at $400 and came down as expected before hitting a relative bottom at open on March 2nd. We saw $SPY make a relative low in the $392 range but watched as confidence came back quickly through the rest of Thursday into Friday.
Friday was an amazing bullish day for the markets, with many opportunities to trade and realize a significant amount of gains. We started the day with $SPY trading right under the $400 resistance level and continued moving up throughout the entire day with continued strength and relative confidence.
We continued to move up without any sign of weakness, which was a sign of confidence, going into close. During power hour, $SPY did have a small break out, where we made a relative high trading at $404.45 and remained relatively neutral into close. We ended the day trading at $404.19, up $6.38 for the day, or approximately up 1.6%, with an intraday bullish movement of +1.10%.
There were amazing opportunities to actively trade throughout the week, and it was great watching the week end with relative confidence in the equities market, providing us with confidence going into this week. Let’s make some great plays this week and absolutely KILL IT.
Thoughts & Comments for Today, 3/06/2023
Today should be a fun time to actively trade. As I said before, this week will be difficult to navigate as a result of Jerome Powell speaking not only once but twice. This will bring a significant amount of volatility and movement that may or may not be in your favor. We do not know what will be stated and how the people will interpret it. Assuming Jerome Powell confirms confidence in his hearings and says what people want to hear, we will see some general bullish momentum in the markets, but in the case that he brings fear into the general markets, expect to see some blood in the relative short term. I do not expect Jerome to scare the markets, but anything can really happen during these hearings. Ideally, we do see the markets continue to move up with relative confidence.
We are at the high end of neutral in the Fear & Greed index, which in my opinion, is a bullish sign for the market, as there is general optimism. There is strength in the price of equities right now as people are starting to get back into the markets after the general bearish sentiment that has been in the markets over the previous couple of weeks. This could possibly be a fake-out, causing us to come down more over the next couple of weeks, but realistically I believe that this is the first sign in the short term of relative strength. I do believe that the markets over the next couple of months will continue to chop, so navigate this momentum with confidence, as when the markets are down, it will present us with a great opportunity to buy at a relative low, and when the markets are high, there will be relative confidence.
Please, as always, be careful allocating too heavily too early, as market conditions are always changing. Take advantage of the opportunities that are available, but do not take on too much risk. I do recommend you take on more risk at the moment as a result of the bullish momentum in the markets, but I do recommend that you still practice safe risk management and limit the amount of exposure you have. I personally still am in a significant amount of cash but will be looking to allocate more over the next couple of weeks.
One play that I will be continually watching over the next couple of is $RIVN, if I have the time soon, I will write a report on why I am so bullish on the stock, but just know that my realistic price target for the stock in the short term is $20-25, where if $RIVN has the confidence to break through $20, it will continue to go up, and I will ride the momentum and slowly scale out of the position.
I do not recommend you blindly follow me on $RIVN, but if you are looking for a risky yet solid opportunity to place some money in the short term, this is my speculative play at the moment.
Just be careful trading this week while actively trading and looking to allocate, as I am not confident in these current market conditions. We can continue to move up with relative strength, but I do expect to see some chop and difficulties for people who are over-allocated.
Continue to practice risk management, set stops in guaranteed profit, and remain liquid while the markets are irrational. Q4 will be extremely profitable for everyone, so stay calm and trade on.
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Last week was a great time for the general markets. There were many opportunities to realize a significant amount of gains while there was general bullish sentiment. It was a great time for traders, and our algorithms performed as such. I did expect to see better results from the algorithm, but I cannot be upset with the performance of last week. It was a tough time to navigate as technical analysis was difficult, but I was excited to see the general bullish sentiment.
The results of last week are as followed:
Baseline:
$SPY: +1.47%
Our Results:
Variable Sector Neutral: +1.24%
Base Algorithm: +1.1%
Variable Market Neutral: +0.49%
Long-Term Portfolio: +0.44%
Sector Neutral: +0.15%
Market Neutral: -0.26%
To get an in-depth analysis of the performance of our Algorithms, check out Asher’s Report!
For this week, please be careful taking on general bullish alerts in these market conditions. We have a significant amount of speakers and economic news that will result in increased volatility and momentum. This will either be extremely favorable for traders or cause a significant amount of realized and unrealized gains.
Because of this, I will warn you against taking on any blind bullish buy at open, sell as close plays. Look to cherry-pick your favorite positions that you believe will outperform over the next couple of weeks and realize some gains when given an opportunity to do so. Set stop losses in guaranteed profit for the positions you did pick out to limit your downside risk, and assure that you are realizing gains by the end of the day on any of these alerts.
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 3/6/2023
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 3/06/2023
Factory orders - 10 AM ET
Notable Earnings for 3/06/2023
Pre-Market Earnings:
Ciena Corporation (CIEN)
After-Market Earnings:
Trip.com (TCOM)
Nutanix (NTNX)
Guidewire Software (GWRE)
HighPeak Energy (HPK)
AeroVironment (AVAV)
Grindr (GRND)
Wrap up
Overall, just be smart while actively trading today. Prepare for the next couple of days, as we have a significant amount of economic news and speakers that will impact the markets. Make good positions, realize gains quickly, and have a great time in the process. Look into possibly hedging positions for possible downside again if VIX continues to drop.
Good luck trading today, and let’s start this week off strong!