HaiKhuu Daily Report 5/18/2023
Good morning and happy Thursday! Hope you all are doing well and are excited about the current market conditions. Historically, today is a bearish day, but as a result of the momentum of yesterday, I would say be careful trading today but look to take advantage of the momentum in the markets and realize some gains when given an opportunity to do so. Today will be an extreme toss-up on how the markets react, but there will be many great opportunities to trade. Watch out for momentum shifts as a result of economic news coming out today, and just follow the money.
Make some smart plays today, realize gains when given an opportunity to do so, and have some fun in the process of everything!
Good luck trading today, and let’s make some BANK!
Thoughts & Comments from 5/17/2023
Yesterday was an interesting day for the markets, that despite historical data, was a pretty solid day.
We started the day with $SPY trading at $412.38, up from the previous close of $410.25 and looking relatively strong. We quickly sold off right after the market opened but were provided with an amazing opportunity to load up on strong equities and ride the wave. $SPY made its official low of day trading at $410.64, still above the previous close, but not by much.
After making the low of the day, the markets moved up significantly throughout the entire day, where we slowed down into the lunchtime lull but watched as the markets expanded at an exponential rate as people started to come back from lunch. Right around 12:30 pm EST, we watched as the markets continually ripped for a solid hour and a half, going from trading in the $412 range, right around where we opened, to making an official high of the day trading at $415.86.
Going into power hour, momentum did slow down, and we did not see much movement in the greater markets, but were provided with an amazing opportunity to take profit after the insane run we had intraday.
We officially ended the day with $SPY trading at $415.23, up $4.98 or approximately 1.21% from the previous close, with an intraday bullish movement of 0.68%. It was an amazing day full of opportunities available, despite it being a historically bearish day for the markets.
I cannot complain about the opportunities that were available to us, and I hope you all were able to capitalize on the movements. It was a great day with many amazing trades. A close above $415 on $SPY brings confidence in the markets, but not enough to blindly start attempting to trade the confidence. Watch out for $SPY 410/420, as those are the major levels we are trading around right now.
Thoughts & Comments for Today, 5/18/2023
Today should be an interesting time for the general markets. As I said, historically, this is a bearish day for the general markets, but there is a significant amount of confidence in the market that was not here just two days ago. One of two things is going to happen here, and your guess is as good as mine for which direction we ultimately decide on going.
$SPY is currently trading right above $415, providing a significant amount of confidence right now, but this confidence is not going to last. We either will see $SPY shoot up to $420 and fake out a lot of people, or we start selling off here and come back down to $410. Ultimately, whichever direction we take is going to not end well, but more people would get hurt in the case $SPY moves up to $420, gets people to FOMO in, and then drop back down to $410. It would not surprise me if this were to happen, and there is a very good possibility that it does.
Please be extremely careful moving forward in these current market conditions and look to capitalize on the opportunities that are available to you right now.
I would highly recommend you look to cut positions you are nicely green on that you are comfortable and confident cutting at these prices. Taking profit never hurts and provides us with an amazing opportunity to realize gains after what has been a rather intense year we’ve had.
It will be extremely difficult trading right now as the prices of certain equities, in my opinion, are highly overpriced, but at the same time, it is difficult allocating into strong equities that have been hit recently as a result of current market sentiment, IE $DIS. I believe that $DIS is a great organization to buy and hold, mostly at this price, but in the case that the markets do ultimately decide to come down another 5-10% in the near future, we will be able to see a significantly better allocation opportunity.
Just be smart in these current market conditions, and look for rationale when attempting to allocate to anything at this moment. Semiconductors are overpriced in the short term but will burn anyone who is attempting to fight the momentum, mega-caps are looking extremely strong, and many organizations are looking extremely weak.
Continue to tread lightly on these current market conditions, and do what you can to minimize risk where possible. Lots of people are going to have a difficult time over the next couple of weeks as a result of a significant amount of chop and lack of momentum in their favor, where they become antsy and try forcing allocations.
Be careful trading today, practice safe risk management, but maximize the opportunities available to you to realize some gains!
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 the markets, with a significant amount of intraday bullish momentum. Our systems provided solid returns but were not able to beat out the performance of the general markets.
$SPY outperformed the LTP, and our fundamental analysis underperformed in comparison to our technical analysis. It was a loss against the general markets, but as I have been saying, market conditions have been interesting and tough, but a couple of days of not optimal performance doesn’t skew any confidence, it just shows that the system is realistic and is not being oversold being an end-all-be-all to stock trading.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: +0.68%
Our Results:
Long-Term Portfolio: +0.3%
Base Algorithm: +0.24%
Variable Sector Neutral: +0.03%
Variable Market Neutral: -0.02%
Sector Neutral: -0.11%
Market Neutral: -0.3%
With today being historically bearish, I would advise caution when looking to allocate heavily into any of these positions today, but with the bullish momentum in the markets, look to find the plays that you personally believe will provide a significant amount of momentum throughout today and provide you the best returns. As always, please do your own due diligence prior to entering any of these positions and set stop losses to limit your downside risk where possible.
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 5/18/2023
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 , $TSLA, $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
Cut all positions you are not comfortable holding
Exit positions you are comfortable taking profit on
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN
Long-Term Riskier EV Play - $RIVN
Economic News for 5/18/2023
Philadelphia Fed factory survey - 8:30 AM ET
Initial jobless claims - 8:30 AM ET
Fed Gov. Philip Jefferson speaks - 9:15 AM ET
Fed Vice Chair for Supervision Barr testifies - 9:30 AM ET
Existing home sales - 10 AM ET
U.S. leading economic indicators - 10 AM ET
Notable Earnings for 5/18/2023
Pre-Market Earnings:
Walmart Inc (WMT)
Alibaba Group Holding (BABA)
KE Holdings (BEKE)
Grab Holdings (GRAB)
Bath & Body Works (BBWI)
Advanced Drainage Systems (WMS)
Eagle Materials (EXP)
Brady Corporation (BRC)
Canadian Solar (CSIQ)
Dole plc (DOLE)
After-Market Earnings:
Applied Materials (AMAT)
Ross Stores (ROST)
Flowers Foods (FLO)
DXC Technology Company (DXC)
Qifu Technology (QFIN)
Alvotech (ALVO)
Farfetch Limited (FTCH)
Wrap up
Overall, this should be an extremely interesting day for the markets with some opportunities available to trade. Just remember that historically, this is a bearish day for the markets, but there is a significant amount of confidence in the markets in the short term right now, so capitalize on that confidence and do what you can to increase your profit potential. As always, practice safe risk management, and do what you can to maximize your profits!
Good luck trading, and I hope you all have a great day!