HaiKhuu Daily Report 6/07/2023
Good morning and happy Hump day! Hope you all are feeling great and are ready for what should be another confusing day for the general markets filled with chop! There is a lot of confidence in the general markets right now, and this should bring up some red flags in the short term. It is nice having relatively lower volatility and increased confidence, but it is just a matter of time before the symphony stops, the music is over, and people go rushing for the door. But for now, continue to enjoy the show and capitalize on the opportunities that are presented to us.
Historically, today is a bearish day for the general markets, but as we all have seen, historical data has not proven to repeat itself consistently this year, so take this with a grain of salt when attempting to navigate the markets today.
Markets are looking strong at the time of writing this report. Movement up in the markets is not significant, but organizations like $TSLA and $NFLX are up 3%.
Keep making smart decisions that allow you to realize gains in the short term, and capitalize on any and all opportunities that are available to you today. The best traders will continue to realize gains regardless of market conditions, and the smart traders are starting to add towards bearish allocations and hedges while VIX is at a three-year low.
Make some good decisions and think about the markets like it is a game of chess, prepare accordingly for the near future, and prepare for what is to come. Enjoy the confidence in the markets and capitalize on it, but prepare accordingly.
Good luck trading today everyone and let’s make some BANK!
Thoughts & Comments from 6/06/2023
Yesterday was a tough day to trade with many opportunities to actively trade. There were shifts in momentum that you could have capitalized on, but it was extremely difficult to navigate the general chop. We opened the day with $SPY trading at $426.72, down from the previous close of $427.10. Markets looked relatively weak as we dropped right from open to make the official low of the day with $SPY trading at $425.99. Despite this relative weakness around the market open, we watched as the markets gained a lot of confidence as we rallied from the bottom to make the high of the day trading at $428.57.
Momentum started to slow down around lunchtime when we saw a slight dip and recovery in the markets, and as people came back from lunch, we watched as the markets sell off again. We did have a quick pop again around 1 pm EST but it was extremely short-lived as we watched as the markets came back down to make a relative low trading right under $427.
Going into close, we watched as the markets started to rally at 2 pm EST and rip into the close. The bullish momentum into the close, in the grand scheme of things was not significant, but for anyone who is actively trading the bullish momentum into the close was extremely nice.
We ended the day with $SPY trading at $428.03, up $0.93 from the previous close, or up approximately 0.22%, with an intraday bullish movement of +0.32%. It was a tough day for anyone who had difficulties finding positions, but it was a day full of opportunities to capitalize on the momentum in the markets and realize some gains.
Hopefully, you all were able to make some bank trading yesterday and are hyped for today!
Thoughts & Comments for Today, 6/07/2023
Today should be another interesting day for the general markets. Markets as I said before, are looking relatively stronger than they did when markets closed last night, but are not up significantly to the point of creating extra confidence. People are actively treading lightly on these market conditions because everyone sees the confidence and bullish momentum, but knows that just like a game of Jenga, everything is going to come crashing down, it is just a matter of when will the blocks fall.
Look to continually capitalize on the momentum in the markets, but please make sure you are walking on eggshells if you are attempting to go long in these market conditions. The only positions I would recommend you look into getting at this moment, are fundamentally solid organizations that are undervalued at the moment. There are lots of positions that would fall under this category. The two that I personally am looking at right now are $DIS and $DG. Both are very solid organizations that have some short-term issues that are negatively impacting them in these market conditions. These are just some of the few organizations that I personally have a lot of confidence in entering right now, as they are great companies that in the case the markets do decide to come down, will not be impacted as heavily as major tech organizations.
If you are attempting to scalp or trade, continue to make smart plays and follow the momentum in the markets. Major tech and organizations that are positively benefiting from this confidence in the markets are providing us opportunities to actively scalp and trade. This confidence will come to an end eventually, so continue to capitalize on the momentum while it is here.
The statement I made yesterday is still my sentiment for today. The most confidence a trader can have in the markets right now is to attempt to continually scalp throughout the entire day. Finding day trades in these market conditions is possible but extremely difficult to nail the exact bottom or top, and it would be significantly easier to find small points of confidence in the markets and capitalize on those opportunities through active scalping.
If you have not started adding to your bearish positions or hedging your accounts, please do so now. VIX is at a three-year low and can continue to realistically come down assuming markets continue to build with confidence, but with this movement up, it is not a bad opportunity to slowly continue to add towards a bearish position. I personally have started adding to my bearish positions, scaling in slowly to $SPY $426 puts. Either this position in the short term will lose, but I will win on all of my strong equity positions I am holding, or the markets will come down accordingly, where the strong equity is having a difficult time, and these positions will do phenomenally to assist in minimizing the losses that would be incurred in that time. Either way, both are strong ways to attempt to navigate the markets.
Continue to make smart plays, navigating the markets with confidence and maximizing your profit potential in the short term, but tread lightly and slowly but continually add to your bearish allocations as the market momentum slows down, despite the confidence in the markets. Once market confidence is lost, it will be a quick and sharp fall that will cause a lot of commotion as many will not be prepared for it.
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 amazing day for the algorithms. The long-term portfolio underperformed the markets unfortunately, but our technical analysis absolutely blew it out of the water outperforming everything including $SPY, by providing a sizable return in comparison to the markets. There is a lot of confidence that we all are extremely happy about and are watching to see that this momentum continues throughout the day.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: +0.32%
Our Results:
Base Algorithm: +0.71%
Variable Market Neutral: +0.53%
Market Neutral: +0.32%
Variable Sector Neutral: +0.3%
Long-Term Portfolio: +0.21%
Sector Neutral: +0.2%
With market conditions continually looking strong, please be extremely careful with these alerts, but look to capitalize on any and all of the opportunities that are available in these market conditions. Make sure to do your own due diligence prior to blindly entering into any of these positions, but look to realize gains while there is confidence in the markets. Set stops to limit your downside risk, but look to realize as many gains as possible in the mean time.
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 6/07/2023
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 , $AMD, $GOOGL, $DG
Position Opportunities:
Ride the momentum in the markets
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 6/07/2023
US Trade deficit - 8:30 AM ET
Consumer credit - 3 PM ET
Notable Earnings for 6/07/2023
Pre-Market Earnings:
Campbell Soup (CPB)
J. Jill (JILL)
Lovesac Company (LOVE)
United Natural Foods (UNFI)
Ollie’s Bargain Outlet (OLLI)
Vera Bradley (VRA)
After-Market Earnings:
Trip.com (TCOM)
Gamestop (GME)
Smartsheet (SMAR)
HCP (HashiCorp)
Greif (GEF)
Verint Systems (VRNT)
SMTC (Semtech)
Tuya Inc (TUYA)
Wrap up
Overall, look to maximize the amount of profits you are able to generate in these market conditions, but continue to tread lightly on the confidence in the markets right now. I would highly recommend you look into adding to your hedges and short positions, but continually capitalizing on the confidence in the markets right now. The best traders will continue to generate realized gains in these market conditions and the smart traders are working on slowly hedging their positions. Make some smart positions, realize some gains, and have some fun in these market conditions.
Good luck trading, and I hope you all make some BANK today!