HaiKhuu Daily Report 6/09/2023
Good morning and happy Friday traders! Hope you have some exciting plans for the weekend and are ready for what today has in store for us.
Markets are looking relatively neutral at this point without a significant amount of momentum during the pre-market session. We have organizations like $TSLA that are going on an absolute run during the pre-market session, but the positive movement of $TSLA is not impacting the pre-market movement of $SPY. Historically, this is a bearish day for the markets, but take that with a grain of salt. Market momentum is slowing down, but people are still extremely confident and that is currently driving the momentum in the markets.
Continue to tread lightly on these market conditions, because we are at a point of make or break in the general markets, it is just a matter of if we break out from this point, or we ultimately come down. Next week is a triple witching, so expect to see an increase in volatility and movement in the general markets.
Make some smart plays today, realize some gains, and have some fun in the process of everything.
Good luck trading today everyone and let’s make some BANK!
Thoughts & Comments from 6/08/2023
Yesterday was an extremely nice day for the general markets with some bullish momentum for us all to capitalize on. Historically it was a bullish day, and it seems that history has repeated itself. $SPY opened the day relatively neutral, opening at $426.65, slightly above the previous close of $426.55. We saw a slight movement up in the markets before the markets came down to make the official low of the day trading at $425.82. This weak momentum was not sustained at all in any way, shape, or form.
Quickly after hitting what was the low of the day, the markets quickly reversed and showed a significant amount of momentum and confidence in the markets. There was a lot of strength and confidence as the markets continued to trend up until lunch, where we hit a peak of confidence, and made the relative high of the day trading slightly above $429 on $SPY. As people came back, we did see a drop in the markets as people sold. $SPY came down to test and break below $428 for a moment before momentum picked up quickly and we pushed up into the close. During power hour, we did not move up significantly, but we retained enough confidence to maintain that level on $SPY.
We did see a quick pop into close, where $SPY went on to make the official high of the day trading around $429.60, up nicely for the day, and we ended the day with the markets coming down slightly, to close the day trading at $429.13, up $2.58 for the day or up approximately 0.60%, with an intraday bullish movement of 0.58%.
It was an amazing day for the general markets where we tested the new official high of the year, and are setting up for a possible break out in the markets. I hope you all were able to capitalize on the opportunities available and were realizing some gains in the process of everything.
Thoughts & Comments for Today, 6/09/2023
Today should be a fun day to end the week. There is a significant amount of confidence in the markets right now. Historically, this is a bearish day for the markets, but I would take that with a grain of salt when thinking about the current market condition and how the markets are impacted by market confidence. Confidence is slowing down and we are not seeing a significant amount of additional confidence in the markets, but we are not seeing it flee the markets yet. We are still in extreme greed in the general markets, so it is just a matter of time before the markets to come down accordingly and slow down.
For now, continue to ride this momentum and confidence in the markets. As I said before, we are at a make-or-break point in the general markets. I am expecting to see some significant downside in the markets in the short term, but I personally do not expect to see equities drop until we see a shift in confidence. $SPY and the general markets are either going to reject this level and chop around before the markets come down, or the markets are going to continue to be irrationally strong at this point and continue to be driven up by false confidence in the markets.
I do not like that volatility is so low in the markets and that we are in extreme greed right now, but the end result of this is that the bulls are provided an opportunity to realize some gains and bring confidence in the markets while the bears get slaughtered. It is nice seeing the markets move up in such a fashion, but we need to watch for the markets to come down to sustain this movement. Anyone who will be impacted by heavy movement down in the markets in the short term will be the result of being overallocated in the markets and taking on too much risk.
With the markets continually moving up, I would recommend at this point setting stops on any of the positions you are currently in that are in profit, and looking to start reallocating the capital you have into fundamentally strong organizations that have not been impacted positively by this insane bullish momentum in the markets, and move more towards safety allocations that would not be heavily impacted by a correction in tech.
Two organizations I personally am going to be watching over the next couple of weeks are dollar general and Disney. I know I’ve brought them up before so I won’t talk about them too much, but I believe both are undervalued at this current moment and am slowly allocating into them and long-dated $SPY puts.
Continue to ride the momentum in the markets, vibe, and realize some gains in the short term. But tread lightly on these market conditions, as when things go sour, things will drop extremely quickly. So enjoy the show, but prepare for the show to come to a sudden stop causing a lot of panic and commotion.
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 algorithm and all of our systems as a result of market conditions. Everything outperformed the markets by a large margin and we were provided with an opportunity to realize a significant amount of gains via these plays yesterday. Happy to see that results are continually outperforming the markets on days with solid market momentum and should only continue to see progress in the grand scheme of things.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: 0.58%
Our Results:
Base Algorithm: 1.13%
Variable Market Neutral: 0.98%
Long Term Portfolio: 0.88%
Variable Sector Neutral: 0.87%
Market Neutral: 0.53%
Sector Neutral: 0.31%
With market conditions being strong at the moment, please be cautious about taking any of these positions, but look to find the positions you have the most confidence in actively day trading and maximize your potential for gains. Make sure to do your own due diligence prior to entering into any of these positions and look to minimize downside risk by setting stops, and increasing those stops to be in guaranteed profit to assure you are making risk-free positions. Realize gains when you are happy and follow the market momentum. If there is a shift in momentum, look to exit and secure profits when given an opportunity to do so.
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 6/09/2023
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 , $DG , $DIS, $AMZN , $AAPL , $NVDA , $MSFT , $AMD
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 6/09/2023
No economic event scheduled
Notable Earnings for 6/09/2023
Pre-Market Earnings:
NIO (NIO)
Wrap up
Overall, continue to ride the momentum in the markets and look to maximize the amount of profit potential you have in the short term. This confidence and momentum are not going to last, so tread lightly, but do anything you can at the moment to realize some gains. Grab some hedges and start contemplating shorting highly overvalued positions.
Good luck trading, and I hope you all have an amazing weekend!