HaiKhuu Daily Report 3/21/2023
Good morning and happy Tuesday! Today is a big day in anticipation of FOMC and the press conference happening tomorrow. Please be careful trading today as trades will be extremely momentum-based, but provide us all with some amazing opportunities to actively realize some gains while trading. $SPY is slightly green at the time of writing this report, which is a great sign showing relative strength in a fearful market.
Continue to hold your positions. We are out of extreme fear, which is a great sign for the greater markets. We can see a significant bullish movement over the next couple of weeks, providing us with an amazing opportunity to create some gains. This will either start today, and we watch the momentum push into tomorrow with FOMC & Jerome Powell speaking, or in the case, we see the markets sell-off, we watch this significant movement up happen after. Just note that I personally do not anticipate adding anything in anticipation of us going up, but in the case, we come down, I will continually add to my allocations!
Good luck trading today! Be smart and prepare for FOMC tomorrow!
Thoughts & Comments from 3/20/2023
Yesterday was an interesting day for the general markets that provided us with a significant amount of momentum and opportunities to trade. There was short-term chop that did impact people’s ability to actively trade, but provided us with opportunities to realize some gains and capitalize on the momentum in the short term.
We started the day with $SPY looking relatively strong going into open, with $SPY opening the day trading at $390.78 and moving up right from open. We did chop around on the way up but saw as there was a significant amount of strength in the relative markets. $SPY went on to make a high of the morning trading at $394.17 before rejecting that level and coming down extremely quickly. The movement down was significantly quicker than the movement up, where we came down to trade right above $391 again.
We moved up from what was that relative bottom but did not have much confidence as we dropped into power hour again. During the power hour session, though, we did see as there were many opportunities to capitalize on some bullish momentum as we pushed up into the close.
Going into close, we watched as $SPY tested the high of the day and closed at $393.74, up $3.75 from the previous close, or approximately 0.96%. We had an intraday positive bullish movement of +0.74%, which allowed the majority of people the ability to realize some gains with relative ease in comparison to the greater markets.
I hope you all had fun trading yesterday and were able to capitalize on the opportunities presented to you. Markets should continue to be fun over the next couple of trading days, so do what you can do to maximize the profit potential you have and have some fun in the process!
Thoughts & Comments for Today, 3/21/2023
Today will be a fun day for the general markets. I am expecting a significant amount of the movement today to come in the form of slow momentum. Expect short-term chop that will cause the markets to be relatively difficult for active scalpers but enough momentum to provide some amazing opportunities for day traders. Please mentally and physically prepare for what is to come in the markets in the short term. We will see significantly more generalized movements tomorrow in the markets, but for today, things will be extremely in the air, irrational, and cause a significant amount of traders to have a difficult time.
This is the market condition that I would recommend the majority of traders to sit back, relax and watch the general momentum positively impact your portfolio in the short term. Anyone who is actively scalping at the moment is taking on a significant amount of risk going into FOMC, as the markets will act irrationally and heavily impact the consistency the majority of scalpers require to be profitable.
Please do what you can to limit your general risks right now and continue to add to strong equities that you anticipate holding for the next couple of months, if not the next couple of years. Entries are not as optimal right now in comparison to some other opportunities that have been available, but the markets are still giving us many options with where to allocate. Lots of stocks are still hitting relative lows at the moment, while others are moving up accordingly. Look for fundamentally solid, undervalued stocks that you have confidence in holding, and look to allocate some capital into riskier plays that you are speculating on. Two positions I personally am interested in at this moment are picking up leaps on $SOFI and $RIVN. $SOFI has been heavily hit in the short term as the result of larger economic issues that have impacted them heavily, and $RIVN is an extremely undervalued EV organization that has a lot of issues in regard to production and upper management. Assuming that all of the problems are accounted for and solved on $RIVN’s behalf, my PT on $RIVN in the short term is $20-25, with proper management & production issues resolved, closer to $30-50 and assuming it gets everything fixed, in the grand scheme of things once retail hype is back, we are talking $50+ a share.
This is obviously not a signal to buy or sell any of these positions, but these are just my thoughts that I am personally sharing with you all.
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 both the algorithm and our systems! Our technical analysis underperformed, but not by a significant margin, and our fundamental analysis beat the markets by a sizable margin. I am happy to see that our fundamental analysis did outperform both our technical analysis and the general markets. Sucks that our technicals did not beat the general markets, but extremely happy to see that our systems are continually functioning as expected
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: +0.74%
Our Results:
Long Term Portfolio: +1.0%
Base Algorithm: +0.68%
Variable Market Neutral: +0.12%
Variable Sector Neutral: +0.09%
Market Neutral: -0.11%
Sector Neutral: -0.31%
With FOMC talks in place, I would recommend relative caution when attempting to take any of these positions blindly. They are all valid from a technical analysis standpoint, but we are not in the proper market condition where we can confidently say blindly purchase positions in anticipation of the position moving up accordingly. If you take any of these positions, cherry-pick the positions you have the most confidence in at the risk levels that you are comfortable taking. Make sure to set stop losses and increase those limits accordingly to guarantee some gains!
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 3/21/2023
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, $META , $AMZN , $BA , $AAPL , $MSFT
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 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 3/21/2023
Existing home sales - 10 AM ET
Notable Earnings for 3/21/2023
Pre-Market Earnings:
Tencent Music Entertainment (TME)
On Holding (ONON)
Canadian Solar (CSIQ)
HUYA Inc (HUYA)
ProFrac Holding (ACDC)
After-Market Earnings:
Nike (NKE)
Gamestop (GME)
HealthEquity (HQY)
Array Technologies (ARRY)
AAR Corp (AIR)
Enerpac Tool Group (EPAC)
VNET Group (VNET)
Wrap up
Overall, be safe while trading today, be on the lookout for the momentum in the markets, and follow the trend. You will find some amazing opportunities to realize some gains. Just prepare for FOMC tomorrow and make sure you are making smart positions as a result of that. As always, practice risk management and have some fun in the process!
Good luck trading today, and let’s make some bank!