HaiKhuu Daily Report 6/12/2023
Good morning and happy Monday! Hope you traders are ready for what should be an extremely exciting week with a significant amount of volatility in the short term! We are above major resistance at this point and have made new 52-Week highs on $SPY and the markets are looking extremely confident. Look to follow the momentum in the markets, but tread extremely lightly on these current conditions.
Enter into positions with confidence but make sure to protect yourself against the downside risk involved in trading in the markets at this point. I would highly recommend that the majority of individuals look to actively attempt to day trade and scalp while there is this bullish momentum in the markets versus attempting to allocate long into trending organizations that are overpriced.
Just note that we have FOMC and CPI this week, Thursday is a historically bullish day for the markets, Friday the 16th is Triple Witching and the markets are closed on Monday for Juneteenth.
This is going to be an extremely interesting, profitable, and sketchy week for the markets, so look to maximize your profitability at this point, but look to continually add to your short positions. Ride and enjoy the momentum, but know to shift the sentiment as the momentum slows down.
Good luck trading this week and let’s make some BANK!
Thoughts & Comments from last week
Last week was an absolutely amazing week for the general markets with new 52-Week highs on $SPY. $SPY opened the week looking relatively neutral with a significant amount of confidence in the air. $SPY started the week trading at $428.18 and trended up attempting to test $430 without any luck. Throughout the first half of the week, market conditions were relatively choppy, and was extremely difficult to actively capitalize on the momentum in the markets unless you were actively scalping. We dropped to make new relative lows of the week on Thursday right at open, making a relative low trading at $425.82 but watched as the markets moved up significantly throughout the day, closing the day trading at $429.13, right below the $430 resistance level.
This momentum followed through to Friday, where we watched as there was a significant amount of bullish momentum and strength, that was followed by a lot of selling.
We opened Friday with a lot of strength in the markets as $SPY opened up trading at $429.92, right under $430, and quickly moved up and continued to run for the large majority of the morning. $SPY quickly pushed up to new 52-week highs, trading at $431.99. Once we rejected that level, we watched as the markets quickly came down, showing signs of support and a significant amount of chop in the $430 support area. We did make an official low of the day on Friday, with $SPY trading at $428.88, but quickly recovered back to that $430 support/resistance area.
It was extremely difficult to trade around $430 as there was no clear direction of movement towards the back half of the day, and I am assuming that the majority of traders that attempted to scalp within the final hours of the week last week, had an extremely difficult time as a result of chop.
$SPY ended the week trading at $429.90, right below the $430 support level, but with a significant amount of confidence to end last week with strength.
I hope that you all had a great time actively trading and realizing some gains in the process of everything last week
Thoughts & Comments for Today, 6/12/2023
Today should be a fun time for the general markets. I would highly recommend as I’ve said before, to follow the momentum in the markets, but know that you should be walking on eggshells and treading lightly. This momentum is here in the markets now, so capitalize on it while you can, but expect to see an increase in volatility over the next couple of days, mostly leading to triple witching.
I would expect to see a lot of people able to generate some unrealized gains throughout this week with relative ease, but it will be an easy time to generate gains while there is strength and momentum in the markets. Once the symphony comes to an end and the music stops though, please be extremely careful.
As I have said before, I would highly recommend that anyone who is actively trading continue to scalp and day trade in the short term to capitalize on the momentum in the markets versus attempting to go long on overvalued equities. The only positions I would recommend you look into allocating into, are fundamentally solid organizations that are undervalued in these current market conditions. These organizations may not present you with the highest returns when allocating capital in the short term, but when push comes to shove, and the momentum slows down, those allocations will provide you with safety while major tech organizations fall.
Continue to be safe, but look to capitalize on all of the opportunities that are presented to us all right now. Do not look to increase risk in these current market conditions, and if you do, look to minimize the risk and only take on exposure that you personally are confident in. There are a lot of people that will get burnt in the short term by not being able to capitalize on the opportunities that have been presented to us, and there will be even more people that will get burnt allocating into overpriced equities that ultimately will come down.
If you are looking to allocate into the markets in the short term, make sure to be confident with your entry and exit. Do not get upset if you leave money on the table and make sure that at the end of the day, you are taking on an appropriate amount of risk for yourself and your portfolio.
Do not FOMO into these market conditions, but look to ride the wave when given an opportunity to do so.
Start adding into short positions as there is a significant amount of strength, and bearish coverage is going to be extremely cheap, and possibly look on going long volatility while volatility is at these relative lows in anticipation of volatility increasing for triple witching. A couple of members of the team have started to look into short-expiration ITM CSPs on UVXY not to be bearish on the markets but to be bullish in the short term on volatility, with relatively low-risk exposure.
Please just be smart in these market conditions. Take advantage of everything that is presented to us in real-time, but also look to minimize risk and continue to plan how you see yourself navigating these conditions. Markets are beautiful right now, but it is just a matter of time until there is a shift. Practice safe risk management in the process but have some fun in the process of everything.
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Last week, on an intraday basis, we were able to outperform the markets significantly with every system we have created. Our fundamental analysis outperformed every system but pretty much every system across the board performed in line with each other with not much variance between the highest performers. It was a great week for our systems and we are excited to present these results to you!
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of last week are as followed:
Baseline:
$SPY: +0.17%
Our Results:
Long Term Portfolio: +0.59%
Variable Sector Neutral: +0.58%
Variable Market Neutral: +0.54%
Base Algorithm: +0.53%
Sector Neutral: +0.37%
Market Neutral: +0.22%
With market conditions looking strong, please look to take advantage of the momentum in the markets but be extremely careful with deciding which allocations to pick. There is a lot of confidence in the markets, but it is difficult wanting to allocate into these equities, even just for a day trade at these highly overvalued prices. Please make sure you do your own due diligence prior to entering into any of these positions and make sure you are practicing safe risk management, and limiting your downside risk. You should be able to realize a significant amount of gains in the short term utilizing these systems, but it is just a matter of your personal ability to enter and exit with relative confidence.
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 6/12/2023
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 6/12/2023
Federal Budget - 2 PM ET
NY Fed Inflation Expectations - 12 PM ET
Notable Earnings for 6/12/2023
Pre-Market Earnings:
ECARX Holdings (ECX)
After-Market Earnings:
Oracle Corp (ORCL)
Wrap up
Overall, continue to ride the momentum in the markets. Do what you can to maximize your profits when given an opportunity to do so, but tread lightly on the current market conditions. Look to actively scalp and day trade in these current market conditions versus allocating heavily into overpriced equities that are impacted by “hype” and look to invest in fundamentally solid organizations that are undervalued at this moment. Practice safe risk management
Good luck trading this week everyone! Hope you all make some bank!