HaiKhuu Daily Report 6/01/2023
Good morning and happy Thursday! Hope you traders are all doing well and are having an amazing morning! The debt ceiling has been raised and the economic system is not on the brink of collapse anymore, so this should be an interesting time for the general markets. There should be confidence brought back to the retail markets that will be short-lived, so please be smart, and do not get blind-sighted by this momentum in the general markets. Capitalize on the momentum in the markets right now, look to take profit on the organizations that have benefitted from this, and protect your bottom line as after the confidence has faded and the momentum slows down, we are in for one hell of a ride.
Historically, today and tomorrow are bullish days for the markets, obviously, take this with a grain of salt, but it seems like today is going to be one of those days that history goes on to repeat itself.
Watch out for $SPY $420, and watch out for a rejection around that level. That level will be a solid opportunity to scalp in either direction. Short in the case we reject $420 with confidence and ride the wave down, or go long if we are able to hold above $420.
I personally am preparing to allocate heavily into shorts here within the next couple of days and will let you all know what I get into by that time!
Good luck trading today everyone and let’s make some BANK!
Thoughts & Comments from 5/31/2023
Yesterday was an interesting day for the markets with a significant amount of opportunities to trade, it was just a matter of timing your allocation correctly and taking on risks at the right time. Going into open, $SPY opened down from the previous close of $420.18, at $418.26 for the day. We quickly moved up to make a new relative high of the morning trading right under $419 and watched as the markets continued to sell off across the board throughout the first hour of the day. Going into the lunchtime lull, we watched as $SPY made the official low of the trading day, trading at $416.23, down approximately 1% from the previous close, as there was a lot of weakness as a result of the debt ceiling discussions not coming to an end.
As people started to come back from lunch, we watched as the markets slowly chop around, before starting to move up around 1 PM EST. Once we started to see some bullish momentum, the markets continued to slowly move up with slight confidence into the end of the day. During power hour, we did watch as the markets start to slowly come down as the vote was in progress until all the votes were counted in the House, and watched as $SPY quickly ripped up right before close, to make the official high of the day at $419.22, before selling off literally all of the gains.
We ended the day with $SPY trading at $417.85, down $2.33 from the previous close, or down approximately 0.55%, with an intraday bearish movement of -0.22%.
It was a tough day for the general markets, but it did provide us with opportunities to trade both the bullish and the bearish side of the markets. Hopefully, you all were able to capitalize on the opportunities that were available to you and realized some gains in the process.
Lots of traders had an amazing time, and some traders unfortunately had a difficult time. If you killed it yesterday, give yourself a pat on the back, and if you did realize losses, just know that a lot of other active traders did have a difficult time attempting to trade.
Thoughts & Comments for Today, 6/01/2023
Today will be an interesting day for the general markets. There is a significant amount of bullish confidence in the markets to capitalize on, but please be extremely careful, as I personally am expecting to see a significant amount of bearish momentum over the next couple of days as a result of the increase in the debt ceiling. Lots of people will attempt to go long equities in the short term as there is more confidence in the markets now, but I am a firm believer that things will come down heavily over the next couple of days in the markets, so please prepare accordingly.
Look to capitalize on this movement in the general markets now, but continue to tread lightly and go with the flow. Do not attempt to fight the momentum in any way shape or form, and do not try to catch a falling knife.
For the majority of traders, if you are liquid right now and do not know what to do in this current market situation, I would highly recommend you look into getting longer expiration puts on organizations you believe are overvalued (Semiconductors) or general indices ($SPY/$QQQ), and continue to remain solvent at this time.
If you are an amazing scalper, look to continually scalp the momentum in the markets. I personally am the most confident in entering into day trades at the point of confidence, versus attempting to pick up change at this point.
My personal recommendation is for you all to enter into day trades with confidence when you find an optimal time for entry, hold those solid organizations throughout the day, and take profit when there is either a shift in momentum or when you personally are comfortable and confident in taking profit on the equity positions that you are in.
Make sure to set stop losses to limit your downside risk on all of the positions you enter for a day trade right now, and continue to increase that stop as the position works out to decrease your exposure, to a point where you are in a risk-free trade, with a stop in guaranteed profit and are able to positively benefit from the opportunities that are available.
Continue to tread lightly in these conditions though and watch out for $SPY $420. This will be a major support/resistance level in the short term, and I do not believe there is enough confidence in the market to sustain this movement over the next couple of days / next couple of weeks.
Be smart and prepare for the summer session, but look to take advantage of the opportunities that are presented to us at this moment with the short term confidence of the increase of the debt ceiling.
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 time for the performance of the overall systems. Nothing insane happened, but everything did beat the performance of the markets across the board with relative ease. A win is a win, mostly with every system outperforming the markets. I wish the results were significantly better, but hey, we never can complain about good results right?
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: -0.22%
Our Results:
Sector Neutral: +0.18%
Variable Sector Neutral: +0.07%
Market Neutral: +0.06%
Long-Term Portfolio: +0.0%
Variable Market Neutral: -0.05%
Base Algorithm: -0.12%
With market conditions being optimistic today as a result of the debt ceiling, I would highly recommend you look into actively capitalizing on the opportunities that are available but be extremely careful and practice safe risk management to limit your downside risk in the short term. As I said before, these conditions are optimal in the markets, but I do personally expect to see some selling in the near future, so please when taking any of these positions, limit your downside risk and capitalize on the opportunities available, while limiting your downside risk by setting stops on any and every position you take.
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 6/01/2023
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 , $AI , $NVDA , $TSLA , $GOOGL , $AMD , $MSFT
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 6/01/2023
Initial jobless claims - 8:30 AM ET
U.S. productivity - 8:30 AM ET
IS&P U.S. manufacturing PMI - 9:45 AM ET
ISM manufacturing - 10 AM ET
Construction spending - 10 AM ET
Philadelphia Fed President Patrick Harker speaks - 1 PM ET
Notable Earnings for 6/01/2023
Pre-Market Earnings:
Dollar General (DG)
Hormel Foods Corp (HRL)
Bilibili (BILI)
Macy’s (M)
QuantaSing Group (QSG)
BRP Inc (DOOO)
Conn’s (CONN)
After-Market Earnings:
Broadcom (AVGO)
Lululemon (LULU)
MongoDB (MDB)
The Copper Companies (COO)
Zscaler (ZS)
Samsara (IOT)
Asana (ASAN)
Charpoint (CHPT)
Five Below (FIVE)
PagerDuty (PD)
Wrap up
Overall, please be smart and safe in these current market conditions and tread lightly on the markets. Look to capitalize on the opportunities and bullish sentiment in the markets right now, but be smart and look to make the most out of the current market conditions. This is going to be one fun time for the markets. It is just a matter of how long this confidence lasts before market conditions become less than optimal.
Good luck trading, and I hope you all make some BANK today!