HaiKhuu Daily Report 6/16/2023
Good morning and happy Friday! Hope you traders are ready for today and excited for triple witching. Markets are down at the time of writing this report, but this is going to be a spooky time and we should see an increase in volatility across the board. This has been an interesting time for the markets with a continuation of strength in the markets. Continue riding the momentum and capitalize on the opportunities that are available to us. Today is going to be a sketchy day to trade filled with chop and volatility, but will present us with many opportunities to scalp and day trade with confidence. So, have some fun in the process of everything and do what you can to maximize your profitability going into the long weekend.
Just as a reminder for those who’ve forgotten, we have Monday off for Juneteenth. Enjoy the long weekend and I hope you all have some fun plans!
Good luck trading today and let’s make some BANK!
Thoughts & Comments from 6/15/2023
Yesterday was a beautiful day for the markets with a significant amount of bullish momentum that everyone could have very easily capitalized on. During the pre-market session, we watched as the markets came down on economic news, despite it being a historically bullish day for the markets. $SPY opened the day down, trading at $436.43, below the previous close price of $437.18.
Right from the rip though, we continually moved up throughout the entire morning. $SPY climbed up and continued to make new 52-week highs as there was a significant amount of confidence in the markets providing us all with some amazing market momentum.
Going into lunch, $SPY was actively testing $440, and once it broke that level with confidence, there was more bullish momentum added to the flames. $SPY continued to push up after breaking $440, retaining $441 throughout the lunchtime lull, but once people started to come back from lunch, we watched as the markets make a slight dip to test $440 and stop people out, and go on an absolute run afterward.
Leading into power hour, there was a significant amount of bullish movement in the markets, where we went on to make the official high of the day, and a new 52-week high with $SPY trading at $433.89.
We did come down during power hour, as there was more selling in the general markets at that time, but the move down from the top was relatively insignificant as a result of the bullish movement we had in the markets. $SPY ended the day trading at $442.60, up $5.42 for the day, or up 1.24% with an intraday bullish movement of 1.44%.
There were many phenomenal opportunities to actively trade and realize a significant amount of gains in the process, it was just a matter of catching the wave and riding the momentum.
Hopefully, you all were able to realize a significant amount of gains while actively trading yesterday, and had a great time in the process of everything!
Thoughts & Comments for Today, 6/16/2023
Today should be a fun day for the general markets as a result of confidence in the air. As today is a triple witching, I would expect to see a significant amount of chop and volatility get added into the markets. Please be extremely careful when attempting to trade but ride the momentum and realize some gains in the markets.
Market conditions are in a tough spot when you look at it objectively. There is a significant amount of confidence here at 52-week highs, markets are continuing to move up, but there are a lot of equities that are highly overvalued at this point. Lots of people who are attempting to trade are going to have a difficult time in the short term, but are able to realize a significant amount of gains as they are riding the momentum. People who have been holding strong equities should be having a great time watching as the market momentum is providing them with a phenomenal opportunity to actively trade and realize a significant amount of gains in the process of everything. It is the people that are allocating now while the markets are at this high that will have the most difficult time.
If you attempt to allocate into the markets right now, there is a solid chance that you win in the short term assuming you are in some solid allocations as market conditions are extremely strong, but a lot of these organizations are highly overvalued. $NVDA has hit a new ATH, $AAPL has hit a new ATH, $MSFT hit a new ATH, and the list goes on. Allocating into equities at this point is difficult but it’s even harder fighting the momentum.
As I have said before, and will continue saying in the short term, for anyone who is looking to actively allocate into the markets, the safest way to capitalize on these market conditions without having a significant amount of exposure in the markets, will be to attempt to actively trade and realize gains via scalping and day trading. You will not have any overnight exposure, which will be difficult in the case there is a significant movement up after hours, and you will not be able to capitalize on 100% of the unrealized gains that could have been incurred assuming that you were able to hold the position, but you are going to be able to realize gains while trading to still capitalize on the momentum in the markets.
Historically, the next couple of weeks in the markets are relatively dry, so it would not surprise me to see either a continuation of a slow grind-up in the general markets, or we see a significant amount of momentum towards the downside. I will continue to slowly add to bearish positions while the markets are looking strong, and attempt to capitalize on the ticking timebomb the markets are. The higher we go, once we fall, the harsher it will be.
I still am expecting to see a significant amount of downside in the markets before we push up to a point where ATH on the markets are something we can contemplate, but for now, we are sitting back, enjoying this market momentum and capitalizing on it while we can.
Just make sure to practice safe risk management in the short term and capitalize on the opportunities that are available to us right now.
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 markets and that reflected positively with the algorithms. We unfortunately were not able to outperform but I am still happy to see the results being positive with a relatively safer portfolio allocation. The results obviously could have been significantly better, but they still provided us with relative strength and confidence in these market conditions.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: +1.44%
Our Results:
Base Algorithm: +1.18%
Variable Market Neutral: +0.98%
Long-Term Portfolio: +0.95%
Variable Sector Neutral: +0.64%
Market Neutral: -0.3%
Sector Neutral: -0.51%
With market conditions being optimal at this point, I would advise looking to capitalize on the positions you personally have a lot of confidence in, but not advise blind entry unless you have personal conviction. These market conditions are strong, but the concern I have is for when the markets ultimately shift. Make sure to do your own due diligence prior to entering into any position and make sure to practice the highest level of risk management at this stage in the markets. Enter with confidence, and set stops to limit your downside risk.
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 6/16/2023
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 , $META, $INTC, $TGT , $AAPL , $TSLA , $NVDA
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 6/16/2023
Fed Gov. Christopher Waller speaks - 7:45 AM ET
Consumer sentiment - 10 AM ET
Notable Earnings for 6/16/2023
Pre-Market Earnings:
None Scheduled
Wrap up
Overall, this should be an extremely interesting day with a significant amount of momentum and opportunity in the markets. Continue to capitalize on the opportunities that are available to us in these market conditions and maximize your profit potential while decreasing risk when possible. Let’s make the most out of today. Practice safe risk management and realize some gains.
Good luck trading, I hope you all make some bank today and enjoy your weekend!