HaiKhuu Daily Report 7/31/2023
Good morning and happy Monday! Hope you all have had an amazing weekend and are feeling great about these current market conditions! $SPY is up at the time of writing this report, and markets are looking extremely optimistic at this time. Get ready because this is going to be a fun time for the markets with many opportunities to trade and realize some gains. Volatility increased over the weekend despite the markets being up. That is not a good sign for the markets but does provide us with an opportunity to trade.
Take advantage of the momentum in the markets as there are going to be many great opportunities presented to us. Be smart and safe in these market conditions as things will only continue to be crazy as summer continues. It’s incredible how fast this year has flown by. Let’s make the most out of the opportunities this week and realize some gains while trading today.
We have lots of earnings and economic news this week, if you haven’t read Louis’ weekly preview, make sure to check it out to prepare for what will be an insane week!
P.S. If you have not watched the Tom Sosnoff x HaiKhuu demonstration, I’d highly recommend you check it out!
Good luck trading today and let’s have some fun!
Thoughts & Comments from 7/28/2023
Last week was a crazy time for the general markets. There was a significant amount of movement, meaning many opportunities to trade, and many opportunities to get burnt. We watched as $SPY hit a new 52-week high and watched as it came down right after that. It was a tough time navigating the markets, but if you were fluid enough with your allocations, should have had a phenomenal time.
$SPY started the week off relatively strong, trading at $453.35, and continued to move up with relative ease with a bullish Monday and Tuesday for the markets. We did come down to close on Tuesday and have a relatively neutral Wednesday. But Thursday was an absolutely insane day for the general markets.
Thursday was the day we watched as there was a significant amount of movement that could have been capitalized on with relative ease.
We opened the day looking extremely strong, with $SPY moving up accordingly during the pre-market session, opening the day trading at $458.98, and watched as there was strength as we hit the official 52-week high on $SPY trading at $459.44. This point in the market displayed a significant amount of strength and opportunity in the markets. Going into lunch on Thursday though, we did start to see a slowdown as markets slowly fell over the next couple of hours, resulting in a significant amount of selling during the back half of the day.
Despite looking extremely strong on Thursday, the markets came down significantly and showed that despite the strength in the markets and us hitting a new 52-week high, there is so much potential for downside, that it really put the markets back in perspective for everyone. $SPY dropped approximately $8 from the high to the low and was one of the worst intraday movements we’ve seen in a while, closing the day officially at $452.49.
Friday on the other hand though, there were some amazing opportunities not only to trade but to realize gains in the process of trading. If you bought the dip as there was fear in the markets on Thursday, that risk would have beautifully performed on Friday.
The drop into the close on Thursday was nasty, but a significant amount of the losses that were incurred were recovered by the market open on Friday.
$SPY opened the day trading at $455.72, up significantly from the previous close of $452.49, and showed relative strength for pretty much the entire day. We moved up after opening and watched as we made highs going into the lunchtime lull. The momentum in the markets was not the strongest, but at least it was consistent enough for us to continually move up for the large majority of the morning. We hit the official high of the day with $SPY trading at $457.77 and watched as the markets sold off as people came back from lunch. The selling was a slow but steady two hours, where $SPY made the official low of Friday at $455.06, still up nicely from the previous close.
We ended the week with $SPY trading at $456.92, with $SPY up $4.43 or approximately 1% on Friday, and up $3.57 for the entire week, with a bullish movement of 0.79%.
It was a difficult week for the general markets that at least provided us with many opportunities to actively trade in the process of everything. I hope you all were able to capitalize on the opportunities that were presented to us, and realized some gains in the process, as it was a difficult week overall, but it did provide us with many trades. We are still in extreme greed on the fear and greed index, but this week should still be a fun time despite this general sentiment.
Let’s see what this week has in store for us and make some bank in the process of everything!
Thoughts & Comments for Today, 7/31/2023
Today and this week should be a fun time for the general markets. $SPY is looking strong going into the market open while volatility is coming down. This is giving us many opportunities to actively trade and realize some gains today. We are still in extreme greed on the fear and greed index and look extremely strong on the daily chart. I personally am still hesitant about these current market conditions on wanting to allocate heavily, but the strength and the numbers cannot lie.
If you are looking to trade today, there are multiple approaches you can take. Personally, I would recommend either scalping the momentum or finding an opportunity to day trade. As long as the momentum is looking strong in the morning, a solid day trade on an organization with potential, should be a great position. The one thing I would warn you all to watch out for is in case the momentum starts slowing down. In the case that momentum starts slowing down around lunch, if markets are looking strong, set a stop above the major support levels, and in the case, $SPY or your position breaks below that level, look to get out and take your profit.
We have seen over the previous couple of days, that the markets are looking strong until lunch, where there is a lull in momentum, but markets keep getting bought up, until the point that momentum shifts and people start selling as they get back from lunch.
Once you sell after the lunchtime lull, I would advise you all to look into active scalping afterward. Scalping once the momentum has slowed down and started to shift, will be a great way for you to capitalize on the momentum in the markets in the morning, and capitalize on the momentum in the market afterward. The gains that would be realized will be significantly quicker, and more sustainable scalping after lunch mostly if there is no clear direction of the movement that we will have.
This personally is my anticipation for the markets right now, and I may hold some positions into the afternoon if I feel that there is relative strength, but until then I personally am anticipating to daytrade and get some positions in the morning, and simply scalp and have a great time in the afternoon assuming there is opportunities to do so with confidence. I do not anticipate over-allocating into the markets right now and will do what I can to capitalize on the momentum in the short term while continuing to hold my general allocations that have strength throughout the day.
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Last week was a confusing week on an intraday basis for the markets and our systems. A large majority of the bullish momentum in the markets came from the pre-market and after-hours sessions, meaning that it did not impact the algorithm or its performance over the week. The long-term portfolio slightly underperformed $SPY over the course of the week, and the base algo did as expected and slightly outperformed the long-term portfolio which was a win, but was relatively neutral in comparison to the intraday movement of $SPY. I would consider this a general wash for our systems as this movement despite not being very significant, still does show that on weeks were we underperform, expectations, we still are able to maintain in line the performance of the markets with confidence. Let’s see what this week has in store for us on the algo front and have a great time.
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: -0.46%
Our Results:
Sector Neutral: +0.08%
Market Neutral: -0.06%
Variable Market Neutral: -0.38%
Variable Sector Neutral: -0.48%
Base Algo: -0.49%
Long Term Portfolio: -0.72%
With the markets looking strong today, I would highly recommend you look into taking on a little more risk with these allocations today. Look to allocate into some higher beta positions in the markets that will provide us with opportunities to realize some gains with relative ease. I do not believe that we will get any sort of ultra-substantial upside, but a win is a win across the board. It looks like $CVX is going to be a solid allocation that hits both of these aspects, both in terms of confidence and slightly higher beta in comparison to $SPY. Make sure to practice safe risk management with your allocations today and to set stops to limit your downside risk where possible.
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 7/31/2023
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, $GOOGL, $TSLA, $RIVN, $MAT, $DIS, $AAPL
Position Opportunities:
Ride the momentum in the markets
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 7/31/2023
Chicago Business Barometer - 8:30 AM ET
Fed senior loan survey - 2 PM ET
Notable Earnings for 7/31/2023
Pre-Market Earnings:
SoFi (SOFI)
ImmunoGen Inc (IMGN)
Alliance Resource Partners (ARLP)
AerCap Holdings (AER)
Loews (L)
Symbotic Inc (SYM)
SJW Group (SJW)
After-Market Earnings:
Transocean Ltd. (RIG)
Avis Budget Group (CAR)
Diamondback Energy (FANG)
Amkor Technology (AMKR)
Woodward, Inc (WWD)
Hologic (HOLX)
B. Riley Financial (RILY)
Wrap up
Overall, this should be a fun time for the general markets. So look to take advantage of the market momentum that is presented to us and realize some gains in the process of everything. Practice safe risk management and do not do anything that would put you at risk today. Follow the momentum in the markets, make some solid day trades, and have a great time in the process.
Good luck trading, and let’s kill it this week!