HaiKhuu Daily Report 3/24/2023
Good morning and happy Friday! Hope you all are doing well and are prepared for what is going to be an interesting time for the general markets. $SPY is down almost 1% at the time of writing this report, and the market conditions are looking less than optimal at this point.
With the current market condition, there is still a chance for everything to come down, but this will give us a solid opportunity to add to strong equities you have confidence in and allow us to hold positions at an amazing average until necessary.
Look to take advantage of the high volatility today by selling some 0-DTE highly OTM CSP’s for relative safety to generate some income in the short term! Please be smart and safe while attempting to trade today, practice safe risk management, and limit the amount of general exposure you have today. Take advantage of the opportunities presented to you, realize some gains, and have some fun!
I hope you all have an amazing weekend! Let’s make some bank today!
Thoughts & Comments from 3/23/2023
Yesterday was a tough day for the general markets, filled with volatility, trading opportunities, and opportunities to get absolutely burnt. We started the day off relatively strong, with $SPY opening the day trading at $395.02 and retaining a significant amount of bullish momentum. We continued to slowly grind up for approximately two hours after open, where $SPY made an official high of the day, trading at $399.29, showing relative confidence but not enough momentum to break through that $400 resistance level again.
Once we rejected the high of the day, though, we watched as the markets came down significantly and, at one point, going red from the previous close. $SPY went on to make a low of the day, trading at $390.36, down approximately 2% from the top. We recovered ever so slightly in power hour, going green again from the previous close but down from open, which was a tough time. $SPY ended the day trading at $393.17, up $1.06 from the previous close or approximately 0.27%, with an intraday bearish movement of -0.49%.
It was a tough time for the general markets but provided us with the opportunity to realize a significant amount of gains in the process and allowed us many trading opportunities. Hopefully, you all were able to capitalize on the trades that were available and realize some gains in the process of everything. Let’s hope today has better results and allows us to have a significantly easier day!
Thoughts & Comments for Today, 3/24/2023
Today is looking like it is going to be a rough day for the general markets. There is a significant amount of bearish momentum at the moment, which will impact people’s ability to actively trade and navigate in the short term. Realistically, I believe that lots of people will have a difficult time as a result of this momentum, but there will be many opportunities to day trade and scalp.
Max pain is right at $390 today, so it would not surprise me if we stay around this area for the majority of the day, with a lack of general momentum and volume as people are confused at the moment. We are still edging closer to extreme fear in the fear and greed index. If the market conditions continue this way in the short term, it will provide us all with a great opportunity to go long, so scale into your positions slowly and be safe with any positions.
For the majority of traders, I would recommend you look into selling highly OTM 0-DTE CSPs today. Volatility is at a relative high, while equities are a little bit cheaper. As always, this won’t be a significant amount of realized gains, nor create any life-changing money, but will provide us all with an amazing opportunity to realize some gains with relative ease and extremely low stress. Look for organizations that are severely undervalued at this moment, with a sizable amount of premium that you will be able to capitalize on.
If you are attempting to trade this momentum in the short term, please be extremely careful. Lots of people will get burnt in the short term by attempting to catch this movement before any real movement happens. We should see a significant amount of bearish momentum and some relatively smaller intraday bullish runs.
Just please be smart today, limit the amount of risks that you take today, and capitalize on the opportunities that are presented to you in the short term. Do not do anything that would jeopardize your portfolio, and do not get greedy trading today!
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 markets, with some beautiful momentum netting us some solid opportunities, followed by a significant bearish movement which ended up with intraday losses to be generated. Our systems slightly underperformed, which is unexpected but did not underperform enough to the point of concern. We were within 0.2% of the general market movement in our bullish allocations, which does provide confidence in our systems. Our weekly update will give us a better idea of the overall performance of the algorithm this week, and should be a fun time analyzing it all in real-time!
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: -0.49%
Our Results:
Sector Neutral: +0.23%
Variable Sector Neutral: -0.1%
Market Neutral: -0.2%
Variable Market Neutral: -0.48%
Base Algorithm: -0.62%
Long-Term Portfolio: -0.65%
As the markets are not as optimal today going into open, please be careful and cautious entering into any positions blindly and make sure to practice safe risk management. Many of these positions will go up nicely today, but many will follow the general market and have a tough time.
Please do your due diligence on any of these positions prior to entry and only cherry-pick the positions you believe will do the best. Set stop losses on any position and always increase that limit to your break-even to limit any and all risks associated with entering the position!
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 3/24/2023
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, $NVDA , $MSFT , $BA , $AAPL , $GOOG/L
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 3/24/2023
Durable goods - 8:30 AM ET
S&P Global flash U.S. services PMI - 9:45 AM ET
S&P Global flash U.S. manufacturing PMI - 9:45 AM ET
Notable Earnings for 3/24/2023
Pre-Market Earnings:
Express (EXPR)
Sunlands Technology Group (STG)
Wrap up
Overall, please be smart and safe while trading today, market conditions are not optimal, nor will be easy to navigate today. Practice safe risk management and do not stress heavily today. Look to sell some 0-DTE CSPs and enjoy the process! Make smart decisions, make smart positions, and realize gains at an optimal time.
Good luck trading today, and have an amazing weekend!