HaiKhuu Daily Report 4/06/2023
Good morning and happy Thursday (round two)! Hope you all are having an amazing morning and are ready for today! Just a reminder before I started on the report, tomorrow is closed for Good Friday!
The markets have some more significant bullish momentum today as a result of this shortened week. Historically, via the Traders Almanac, we are extremely bullish today, with Nasdaq being green for 20 of the past 22 years. Markets are looking bullish and optimistic today and this month, so do what you can to capitalize on the momentum that is available to us and realize some significant gains! Watch out for chop and neutrality, but there will be many opportunities that present themselves.
Let’s make some bank to enjoy this long weekend!
Thoughts & Comments from 4/05/2023
Yesterday was a rough day for the general markets, with no significant movement in any way, shape, or form. Just like I said in yesterday’s report, to expect some neutrality, that prediction came true. It was difficult for many traders to actively realize some gains while trading due to a lack of movement in the general markets. There was an extremely narrow range of general movement intraday that did provide us with many quick opportunities to scalp and trade, but many more opportunities available to lose in the short term.
To start the day off, $SPY opened trading at $407.85, opening red, down from the previous close at $408.67. At open, things did not seem the worst, as markets slowly moved up throughout the first half hour of the day, where we went on to hit the official high of the day, attempting but rejecting the high of the day. The high of the day on $SPY was $408.67, exactly going black for the day at +/-0.00%.
Once we made that high and rejected, we continually sold off until the lunchtime lull, where we made the official low of the day, trading at $405.89. The movement down itself was not significant at all, as that is less than a 1% drop from the high of the day, but it sucked having to sit through this and watch it unfold in real time.
We did watch as $SPY slowly recovered going into close, but as expected, the movement was not significant and drove people insane watching the lack of general movement. We pushed up during power hour, which did provide us with a great opportunity to scalp and trade into close, but it was a rough time. We ended the day with $SPY trading at $407.60, down $1.07 for the day, or approximately down 0.26% from the previous close. with an intraday bearish movement of -0.06%.
It was a rough day for the general markets filled with neutrality and a lack of opportunities to actively day trade and scalp, but this is the reason why we’ve been recommending holding strong positions you are comfortable and confident holding, as these conditions are not optimal at all to attempt to scalp.
Let’s hope there is significantly more bullish momentum going into open today and have some fun in the process!
Thoughts & Comments for Today, 4/06/2023
Today should be a more interesting day as people are preparing for the long weekend. One thing I want to warn you all about is historically, on Monday, we should be exceptionally red as the day after easter is the second worst post-holiday.
We have some economic news that is coming out prior to markets opening, and that will dictate the direction that we ultimately end up going, as I believe today will be extremely momentum based. As I said before, historically, today is an extremely green day for the markets, but just because, historically, that is the case, it may not be true. Please be cautious while trading or attempting to make any allocations, but make sure to have some solid exposure in the general markets and look to capitalize on the momentum that is available.
Lots of people will continue to get burnt as a result of incorrect timing and over-allocating. Do not look to over-allocate into the markets just because you personally want to make a position, and make sure that you are doing what you can do in the short term to maximize your potential for profit. Follow the momentum in the market and make sure to practice safe risk management in the process.
Set stop losses when attempting to scalp today, move those stops up when given an opportunity into guaranteed profit, and let your winners continue to win.
Make sure to get out of all day trades and scalps by the end of the day because you do not want to hold anything through the long weekend (in terms of short-term trades). If you are looking for an opportunity to enter into any swing trades, look to sell some positions today and look into allocating into the markets on Monday when things have hit a relative bottom.
If you are investing in the markets, continue to hold your positions accordingly for at least the next 6-9 months, as I am expecting to see some significant bullish momentum towards the end of Q3 and into Q4.
I will be looking to create a new free-equity challenge account on Tastytrade here in the next couple of weeks once market momentum is favorable versus attempting to do it now while equity prices are cheap. Continue taking free equity when given an opportunity to do so and have some fun in the process of building out a significant portfolio.
Keep killing it this year, and I hope you are all up a significant amount of realized gains as a result of the general momentum we’ve seen in 2023!
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Yesterday was one of the best-performing days we’ve had in a long time in the general markets. As there was insignificant movement in the general markets as investors started to take risk off and allocated more to general safety plays. As our algorithm is built on a portfolio based around safety allocations and fundamentally solid organizations, the performance wiped the floor compared to $SPY. These results are amazing, and I am very excited to share them with you all!
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: -0.06%
Our Results:
Long Term Portfolio: +1.05%
Market Neutral: +0.87%
Variable Market Neutral: +0.67%
Variable Sector Neutral: +0.59%
Base Algorithm: +0.53%
Sector Neutral: +0.48%
With the current sentiment in the markets, there should be some great opportunities to actively day trade a lot of these allocations. Please, as always, make sure you are practicing safe risk management prior to entering any of these positions, but make sure to capitalize on the opportunities that will be available to you. Do your due diligence prior to entering any of these positions and make sure you are setting stop losses to limit your downside risk potential.
These positions should do exceptionally well today, so be sure to be on the lookout for organizations that you believe will do the best.
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 4/06/2023
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, $TSLA, $BABA , $NVDA , $MSFT , $AAPL
Free Equity List:
Safe - $SPY
Risky - $RIVN
Position Opportunities:
Hold positions you have confidence in
Set stops in guaranteed profit to decrease all exposure risk
Take profit on positions you are in profit in and not confident about
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN
Long-Term Riskier EV Play - $RIVN
Economic News for 4/06/2023
Initial jobless claims - 8:30 AM ET
Continuing jobless claims - 8:30 AM ET
St. Louis Fed President Bullard speaks - 10 AM ET
Notable Earnings for 4/06/2023
Pre-Market Earnings:
Constellation Brands (STZ)
Lamb Weston Holdings (LW)
RPM International (RPM)
After-Market Earnings:
Levi Strauss (LEVI)
WD-40 Company (WDFC)
Wrap up
Overall, please capitalize on the opportunities that present themselves to you today, as there will be many trades available. Seize the moment and realize some gains. Be smart, practice safe risk management, and do not get greedy. Have some fun trading today, and let’s hope there is a significant amount of momentum that drives the markets!
Good luck trading today, and have an amazing long weekend! Happy Easter!