HaiKhuu Daily Trading Report

Good morning and happy Friday! This has been a quick week for the markets with a significant amount of volatility and momentum we all could have continually capitalized on. I hope you all have been able to realize some gains and have a great time in the process.

The markets are still at a point of relative confusion in the markets as a result of the selling we’ve seen this week. There has been a bullish TK crossover on the $SPY daily chart, but we are still under conversion line resistance, within the cloud. This could be a possible fake out, or a bounce on the previously mentioned support levels. There is no significant momentum during the pre-market session signaling a direction for the day, so please be careful and simply follow the momentum in the markets. We are still neutral on the fear and greed index, signaling that there has been no shift in general sentiment in the markets.

This is not the time to take on extra risk in the markets, so practice safe risk management, limit your downside risk, and capitalize on the opportunities that are presented to us. As it is a Friday with elevated volatility, look for an opportunity to sell some 0-DTE CSPs and generate extra income today.

The updated $SPY daily levels are as follows:
Conversion Line Resistance: $446.82
Base Line Support: $443.34
Weak Psychological Resistance: $450
Strong Psychological Support: $440
Daily Cloud Resistance: $450.03

Thoughts & Comments from 9/07/2023

Yesterday was a relatively more confusing and tough time for the general markets. There was a significant amount of chop that made it extremely difficult to remain consistent throughout the day.

During the pre-market session, $SPY was looking relatively neutral for the day but was quickly sold off at 8:30 AM EST when jobless claims and the US Productivity report came out. $SPY opened the day trading at $443.11, down from the previous close of $446.22, and showed signs of relative weakness going into open.

Right as the markets opened, we watched as $SPY had some short-lived bullish momentum in the markets, where we went on to make a relative high trading at $444.40, before selling off, and making the official low of the day trading at $442.77.

Market momentum did move up going into the lunchtime lull, with $SPY trading around $444, and was quickly bought up as people returned back into the markets and volume picked up. We reached $445 on $SPY and continued to hover around that level until the end of the trading day.

We did see that $SPY took a slight dip going into power hour, but that was quickly brought back up. We did not see much momentum in the general markets though for the final hour of the day, with $SPY continuing to remain relatively neutral around the $445 resistance level, breaking out slightly towards the end of the day, making the official high of the day with $SPY trading at $445.54.

The markets came down slightly into close, where $SPY ended the day officially trading at $444.85, down $1.37 from the previous close, or down approximately 0.3%, with an intraday bullish movement of 0.39%.

It was a difficult day for the overall markets to navigate with consistency, but it provided many great trading opportunities, with organizations like $NVDA moving up $8 from open, $TSLA moving up approximately 3%, and $DIS giving us an opportunity to purchase at a 52-week low, and recovering 1% into close.

Regardless of the tough day yesterday, today is a new day and let’s see what the markets have in store for us!

Thoughts & Comments for Today, 9/08/2023

Today is going to be an interesting time for the general markets that will be extremely difficult to navigate with both consistency and confidence.

There will be many great opportunities to trade in both directions today and lots of opportunities for upside momentum. But watch out for chop, as it will be difficult to hold positions if you have a tight stop.

As I have said before, please look to practice safe risk management when attempting to allocate into the markets at this time. There is a significant amount of confusion that will make it extremely difficult to remain consistent in these market conditions. This is not the time to look to take on a significant amount of risk, nor overallocate in the markets.

The most consistent way to generate income today will be by looking to sell some 0-DTE CSPs on organizations with higher volatility, that is highly OTM, with the anticipation of collecting premium. This is not going to be the sexiest way to trade, but it will provide you with significantly lower risk, and higher consistency on a day like today.

If you are attempting to day trade, do not fight any trends. This is not the time to pretend like you are a legend in the markets and are able to time the tops and the bottoms perfectly and call out every single reversal. This is the time to remain level-headed, and simply follow the momentum in the markets. Look for opportunities to allocate with confidence and set stops to limit your downside risk. $TSLA, $AAPL, and $META are going to be three great organizations you can enter into right now with a relatively tighter stop under major support, with upside potential.

I would not recommend attempting to allocate long into any general tech organizations at this time, as there is a significant amount of uncertainty that will result in a lot of difficulties. $NVDA is still highly overvalued, and as a result has a significant amount of downside risk, that will negatively impact the general tech sector.

The only allocation long that I would add to with confidence at this point, are organizations that are fundamentally solid, but are flawed in the short term and are undervalued as a result. I know I have been talking about these two organizations for a while, but $DIS and $DG are two phenomenal organizations I have been watching recently, that in the short term have had a significant amount of difficulties, but assuming that their issues are resolved, will be able to generate a significant return.

I do not know how many allocations I anticipate entering today. Depending on the premium that is available at open, I am looking to sell some 0-DTE $AI CSPs and will be looking to scalp the upside momentum in the markets by either purchasing some ATM calls on $SPY or trading either $AAPL or $TSLA equity today.

Just make sure to practice risk management while attempting to trade today, and capitalize on the momentum in the markets when you are given an opportunity to do so!

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 tough day for our systems. Our fundamental analysis outperformed our technical analysis by a significant margin but still underperformed against $SPY. We are not happy with these results in the short term and are still working on active improvements to assist in navigating these choppy market conditions. We are still outperforming $SPY Year-to-date, but are not happy with the performance of the previous week. Our positions are still on a tentative hold, but we will continue to provide our results and allocations for consistency and transparency sake.

To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!

The results of yesterday are as follows:

Baseline:

$SPY: +0.39%

Our Results:

Long Term Portfolio: 0.22%
Sector Neutral: 0.02%
Variable Sector Neutral: 0.01%
Base Algorithm: 0.01%
Variable Market Neutral: -0.13%
Market Neutral: -0.19%

This has been a tough time for the general markets. As I said before, we are still on a tentative hold on these allocations in the short term while the market conditions are not favorable. We are not endorsing these allocations at this time, because they are not performing up to our standards. We have completed tests that are favorable but are live testing the performance to ensure that these positions are up to our standards.

Once those tests are conclusive, we will lift the hold on these allocations, until then. Please take these at your own risk, and know that these are provided for complete transparency and consistency sake of our systems during this time, and are not actively endorsed by HaiKhuu.

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.

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 , $DIS , $TSLA , $META , $NVDA , $DG , $INTC , $AAPL , $MSFT

Position Opportunities:

Follow the market momentum
Have cash ready to allocate when confident
Exit positions you are not comfortable holding
Hedge positions you want to hold
Sell 0-DTE CSPs that are highly OTM at open

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DIS

Economic News for 9/08/2023

Wholesale Inventories - 10:00 AM ET
Consumer Credit - 3:00 PM ET

Notable Earnings for 9/08/2023

Pre-Market Earnings:

Kroger (KR)
Rent the Runway (RENT)
Hooker Furniture Corp. (HOFT)

Wrap up

Overall, this should be a great time for the overall markets that provide us with many opportunities to trade. Please make sure to practice risk management, and trade when you are confident. A lot of people will have a difficult time remaining consistent in these conditions, but those who are able to remain consistent will realize a significant amount of gains as a result. Make the most out of the opportunities that are available to you today, and look to sell some 0-DTE CSPs in the process.

Good luck trading today, and let’s end this week off strong!

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HaiKhuu Daily Report 9/08/2023