HaiKhuu Daily Report 5/09/2023
Good morning and happy Tuesday! Hope you traders are excited about what should be a good day. Only good vibes going into today. Markets are not looking the most optimal going into open, but there will be many great opportunities to trade in the meantime. Please just look to follow the momentum in the markets and look to capitalize on any opportunities that are available to you. Watch out for fakeouts in the markets because there is a good chance that we magnet back to the $410 level on $SPY.
Let’s make the most of what is available, and do what we can to maximize our potential to create profits in the short term.
Good luck trading today, let’s make some BANK!
Thoughts & Comments from 5/08/2023
Yesterday was an interesting time for the general markets that did not provide us with many opportunities to generate a significant amount of realized gains, but if you were able to navigate the chop, you should have had a fun time. There was not much movement in the greater markets, with a significant amount of chop that impacted people’s ability to realize any type of substantial gains.
Going into open, $SPY moved up pre-market and opened up green, trading at $412.90, up from the previous close of $412.63. There was slight confidence going into open, but nothing of any major significance. We came down right from open, making the first relative low right under $412, and watched as the markets chopped around with literally no major movement until 2 pm EST. At 2 pm, we watched as the markets moved heavily as a result of the Fed loan survey, where the markets dumped extremely hard, going from trading above the open price to making the official low of the day trading at $411.28. It was a rough look for the markets at that time but provided us with an amazing opportunity to scalp at the relative bottom and ride the wave up.
Scalping $SPY at the bottom was a risky play, but with the markets selling off that quickly, it was definitely worth the risk. I entered into my FIRST official trade on Tastytrade and rode the wave up with relative ease. It might all be psychological, but it is a good feeling when you open up a new account, and the first position that you make is a winning play. It just brings good juju.
Going into power hour, $SPY recovered all of the losses that were incurred at the bottom and went on to make an official high of the day, trading at $413.23.
We sold off slightly into close, with the markets coming down ever so slightly, but overall ended the day slightly green. $SPY ended the day trading at $412.74, up $0.11 from the previous close on Friday, up 0.027%, with an intraday bearish movement of -0.04%.
It was a tough day for the general markets and an extremely difficult day if you attempted to scalp the lack of momentum. Hopefully, you all were able to realize a significant amount of gains while attempting to trade yesterday and were able to capitalize on the opportunities available… cough cough the +3% movement up on $RIVN.
Thoughts & Comments for Today, 5/09/2023
Today should be an interesting day for the markets. I will warn you, like before, that there is a chance that we do, unfortunately, magnet back to $410 on $SPY, and there is a good chance that there is a lack of momentum in the general markets where we chop again like yesterday. The chop and lack of movement is a tough time, where anyone who is attempting to scalp will not have many great opportunities to trade, so if you are looking to scalp, my recommendation will be to follow the momentum in the markets and to make some smart allocations.
For everyone else, please continue to prep for the summer session. There will be some difficult times ahead of us as a result of the summer session in the markets, where we will continue to move just like yesterday, making it rather difficult to actively day trade. There will be a lack of momentum as well as slow bleeding as people are selling off their equity positions. Please continue to be smart and look to properly prepare yourself for this lack of momentum in the general markets.
My personal recommendation is to anticipate this and look to rotate their portfolios more into cash and opening hedges against positions you want to hold over the next couple of months. Once there is significant economic news or global news that impacts people’s confidence, that will be an amazing opportunity to purchase strong equities and hold for the expected significant bullish movement into the end of the year.
Continue to prepare your plans for how to navigate the markets, as there will be a significant amount of movement in the markets over the next six months, and the traders who prepare properly will end up realizing the most as a result of this. Just make smart positions in the short term, as the markets will act irrationally longer than the majority can stay solvent. As long as you are able to tread lightly and continue to navigate this choppy time when the markets move up significantly you’ll be in an amazing position to continue to realize a sizable amount of gains.
Be smart in the short term and maximize any and all opportunities available to you to generate any sort of income.
I know this is extremely speculative, but I just want to type this out for you all too. In regards to $RIVN earnings today, I know I’ve been holding this for a long time at this point, but I am exceptionally excited to see what happens with this organization over the next couple of months. In the case I am able to cut my position for some realized gains today or tomorrow, I will cut half my position and move that liquidity over to Tasty. But my justification on this is that $RIVN has one of the largest lists of qualified pre-orders in the automotive industry at this point, but the issue they’ve had is in terms of production. There is a lot of employees in the factories last quarter that were literally sitting around and doing nothing because there were so many backlogs of components necessary to produce their vehicles. Now that they have moved more people to Illinois to increase production capability, I am personally expecting a miss on EPS, but I believe that their forward guidance will drive their earnings.
I am looking at $RIVN as a general investment, as I believe that their EDV will become a standard in last-mile delivery over the next 3-5 years as $AMZN continues to get more delivered to them, and other organizations start ordering those vehicles to replace the sprinter trucks that they are utilizing at this point. I am biased as I personally do have a large majority of my liquidity tied up in $RIVN at this point, but I am not worried about the simple day-to-day movement as I personally am waiting for a larger scale movement in the organization prior to exiting. I have a lot of confidence in them as an organization over the next couple of years, it is just a matter of if we can hold the position for as long as it is necessary.
Please be smart if you are following me in $RIVN or if you ultimately decide on allocating into a position in $RIVN for earnings 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 an interesting and very tight day for the algorithms. The reasoning for this was the unfortunately tight day we had in the general markets. Some positions did better than others, but in the grand scheme of things, it was an extremely flat and neutral day for us. I wish I had better results, but C’est la vie. Not much to say when the intraday movement in the markets was 0.04%.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: -0.04%
Our Results:
Variable Sector Neutral: +0.24%
Sector Neutral: +0.17%
Market Neutral: +0.06%
Variable Market Neutral: +0.04%
Base Algorithm: +0.03%
Long-Term Portfolio: -0.3%
Be cautious about taking on any allocations today, as market momentum is not optimal at the time of writing this report. Things can easily change between now and open, but with the markets being down slightly, I would advise caution prior to entering into any of these positions.
Everything is still valid from a technical analysis standpoint, but I am just uncertain and not confident about the greater market conditions providing us with consistent momentum providing us all with a good opportunity to actively trade and realize some gains.
Do your own due diligence prior to entering into any of these positions, and make sure to practice risk management and set stops to limit your downside risk.
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 5/09/2023
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, $JPM , $AAPL , $MSFT , $NVDA , $GOOGL
Position Opportunities:
Hedge the positions you want to hold
Set stops in guaranteed profit for any position you are in profit in
Start exiting positions you are comfortable taking profit in
Cut all positions you are not comfortable holding
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN
Long-Term Riskier EV Play - $RIVN
Economic News for 5/09/2023
Fed Gov. Philip Jefferson speaks - 8:30 AM ET
New York Fed President Williams speaks - 12:05 PM ET
Notable Earnings for 5/09/2023
Pre-Market Earnings:
Duke Energy (DUK)
Coty Inc (COTY)
Air Products & Chemical (ADP)
Under Armour (UAA)
Catalent (CTLT)
Corebridge Financial (CRBG)
Fox Corporation (FOXA)
GlobalFoundries (GFS)
Henry Schein (HSIC)
Jacobs (J)
After-Market Earnings:
Airbnb (ABNB)
Occidental Petroleum (OXY)
Electronic Arts (EA)
Coupang (CPNG)
Darling Ingredients (DAR)
Axon Enterprise (AXON)
Wynn Resorts (WYNN)
Akamai Technologies (AKAM)
Rivian Automotive (RIVN)
Twilio (TWLO)
Wrap up
Please be smart while attempting to trade today. Follow the momentum in the markets and look to maximize the opportunities that are available. As always, practice safe risk management and do what you can to increase your profit potential at this time. Watch out for $RIVN earnings after hours today, as it should be an extremely interesting mover in the short term. I wouldn’t recommend blindly entering into a position at this time, but if you are looking on taking on some risk, this is not the worst opportunity to add lightly to speculate.
Good luck trading, and let’s make some bank today!