HaiKhuu Daily Report 7/11/2023
Good morning and happy Tuesday! $SPY is above $440 at the time of writing this report, which is a sign of general confidence in the markets, and a possible sign that we could bounce. Daily support has moved up, and the conversion line is at $439.36. Assuming we are able to hold this level, this is a bullish sign for the markets, but in the case we break down, I am expecting to see a bearish TK crossunder on the daily in the upcoming weeks signaling bearish momentum.
Continue to follow the momentum in the markets and be fluid with your positions. There will be some great opportunities to actively trade today and capitalize on the momentum in the markets, but just as always, be safe and practice risk management when attempting to trade.
Note that tomorrow, we have a significant amount of economic news that will heavily impact the markets, and then historically, both Thursday and Friday are bullish days for the market. Obviously, take this all with a grain of salt, but this should be a great time for everyone.
Go on and realize some gains trading today. Good luck everyone and let’s make some bank!
Thoughts & Comments from 7/10/2023
Yesterday was a choppy day that was extremely slow with an extremely narrow range of movement that made it difficult for traders to capitalize on.
From the get-go, $SPY was confusing and in weird territory. We were right above daily support but did not show a significant amount of confidence in the process. $SPY opened at $438.22, down slightly from the previous close of $438.55. Right as the markets opened, we watched and saw a significant amount of bullish momentum where we continued to move up accordingly, and got to the point where we were testing $440 with the official high of the day. $SPY only was able to reach $439.84 though, and showed a significant amount of opportunity. Despite the confidence in the markets, $SPY was not able to sustain this movement up and came down.
Going into the lunchtime lull, we watched as the markets continually came down providing us with a great opportunity to go short, and an even better opportunity to go long. We made the official low of the day trading at $437.59 and quickly snapped back all of the losses that were incurred.
It was an interesting time watching the markets recover, but after the recovery after lunch, there really was no movement until the end of the day. During the final twenty minutes of the trading day, we did start to see some more momentum in the markets. $SPY quickly moved up from the range it was stuck in, to quickly coming down to make a relative low, and then absolutely pumping the final ten minutes of the day.
We ended the trading day with $SPY trading at $439.66, up $1.11 for the day, or approximately 0.25%, with an intraday bullish movement of +0.34%. It was a great day for the general markets that provided us with a couple of opportunities to trade with confidence. Great job trading yesterday and let’s go on and kill it today!
Thoughts & Comments for Today, 7/11/2023
Today should be a fun time for the markets. Volatility is continuing to come down before open as $SPY is continuing up. As we are above $440 on $SPY, this is a sign of confidence in the general markets and I hope that it is sustainable at this level. I am expecting to see a significant amount of chop today where there is a good chance we come back down to $440, and hover around there for a large majority of the day. In the case we don’t chop around though, I am expecting to see a significant amount of bullish momentum that people can capitalize on with relative ease. This is going to be one of those days where hindsight will be 20/20. Either we called it and should not have traded as it only resulted in a difficult time for everyone involved, or we can see a sign of confirmation that the markets reversed and as a result, everyone was able to realize gains with ease.
This is obviously all personal speculation, but I am a firm believer that we will either chop around or break out today. As a result of this sentiment, I personally am going to be looking to trade more volatile organizations like $TSLA to capitalize on the bullish movement. I do not intend on getting option contracts but will be sticking to straight equity. I’ll look to decrease risk by setting stops and continually increasing the stop assuming $TSLA continues to move up.
A couple of numbers to remember today are $SPY $440 as a psychological support level that I am expecting to chop around, in the case we break down, that will be a sharp drop once we are below $440 intraday, $439.36, which is the conversion line support on the daily, which is very significant, and $434.13 which is the daily baseline support. Assuming $SPY holds $440 and continues to move up, that is a sign of bullish confidence in the markets, in the case we break below $440 and break under and close below $439.36 it is a sign of weakness in the markets, and if we break below $434.13 is a confirmation of a reversal in the markets and is a sign to get out of most positions.
Continue to take profit on positions that are “overvalued” right now and look to reallocate that capital into other positions that at the moment are undervalued and have a higher potential to continually move up over the course of the next couple of weeks with significantly more confidence. There are a lot of great organizations that in my opinion are undervalued right now that are going to be solid holds in the long term. They might not provide you with the instant exponential profit some tech organizations are providing us but will be significantly safer in the case that there is some sort of economic news or tech stocks start to slip as people take risk off the table at these relative highs.
One play that I want to put on all of your radars is $MAT. Mattel is the parent company to well know brands like Hot Wheels, American Girl, Fisher-Price, and Barbie. With the Barbie movie coming out here in two weeks and this being one of the most anticipated movies of the summer, I believe that this is going to be a phenomenal hold over the next 3-6 months. This should not be one of those plays that provide you with stupid exponential gains, but I am a firm believer that this organization will continue to go up with strength and confidence into their Q3 Earnings report and have a phenomenal quarter and even better forward guidance on this as their movie performance exceeds expectations, there is an even larger demand for their dolls and accessories. This is obviously a speculative play, but I feel like my logic and reasoning behind it is very reasonable. My personal PT for the stock at the moment is between $25-30 a share. Take this with a grain of salt but is a position I personally am interested in holding and am already in.
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Yesterday was a great day for our systems. The long-term portfolio unfortunately underperformed, but despite this, our base algorithm was able to outperform the long-term portfolio it was built on by a significant margin, beating out every system we have as well as $SPY. I am very happy to see the way the systems performed yesterday. It was a great day for our systems and let’s watch to see it continually perform with a significant amount of confidence!
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: +0.34%
Our Results:
Base Algorithm: +0.5%
Variable Market Neutral: +0.43%
Market Neutral: +0.3%
Variable Sector Neutral: +0.21%
Long-Term Portfolio: +0.06%
Sector Neutral: -0.1%
With market conditions being in an interesting spot, look to use this algorithm as a way to narrow down your research to streamline your active trading. There is no need to do an extensive amount of research across the whole market to find a position you like, go into this list, find the largest allocations, and do your research on those organizations. The higher amount of confidence in the position means the algorithm is going to allocate significantly higher to that position. Use this wisely, and as always never blindly enter into any of these positions. Do your own due diligence prior to entering into any of these positions and practice safe risk management in the process. Set stops to limit your downside risk and allocate accordingly.
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 7/11/2023
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 , $RIVN, $MAT, $DRI , $DIS, $MSFT , $NVDA, $AMD, $TSLA, $AAPL
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 7/11/2023
NFIB optimism index - 6 AM ET
US Redbook YoY - 8:55 AM ET
Fed's Bullard Speaks - 9 AM ET
Notable Earnings for 7/11/2023
Pre-Market Earnings:
Byrna Technologies (BYRN)
After-Market Earnings:
None Scheduled
Wrap up
Overall continue to follow the momentum in the markets and look to capitalize on the opportunities that are available to us. Look to limit your downside risk and realize some gains and look for some great opportunities to spend those gains on the Amazon prime day deals. Spend some time looking into Mattel as an organization and grab some shares just to hold in your portfolio as a safety play over the next couple of months!
Good luck trading, and let’s make some BANK!