Independent Research, Turtles all the way down

Turtles all the way down

Independent Research

Writing short articles about mis-priced boring stocks around the world.

Equity Bottom-Up

<ul><li>I am taking several off the list, first one being Angiodynamics (ANGO) written up here .</li><li>It jumped in the past week on a slightly improved forecast to a high of $13. I wrote it up at $6.9.</li><li>I think fair value is around $12-15 or so, so no longer all that interesting.</li></ul>

I am taking several off the list, first one being Angiodynamics (ANGO) written up here .It jumped in the past week on a slightly improved forecast to a high of $13. I wrote it up at $6.9.I think fair value is around $12-15 or so, so no longer all that interesting.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We downgraded our near-term outlook on SPX and QQQ to neutral last week (11/19/25), after being bullish since 4/22/25, while we maintained our intermediate-term bullish outlook (as of 5/14/25).</li>
<li>Crucial support levels of 6480-6520 on SPX and $580-$583 on QQQ held last week, and we are back to being near-term bullish as long as these supports continue to hold</li>
<li>The latest pullback offers an attractive entry point into all the speculative growth areas that we were pounding the table on since May, WITH A STOP AT LAST WEEKS LOWS</li>
</ul>


We downgraded our near-term outlook on SPX and QQQ to neutral last week (11/19/25), after being bullish since 4/22/25, while we maintained our intermediate-term bullish outlook (as of 5/14/25).
Crucial support levels of 6480-6520 on SPX and $580-$583 on QQQ held last week, and we are back to being near-term bullish as long as these supports continue to hold
The latest pullback offers an attractive entry point into all the speculative growth areas that we were pounding the table on since May, WITH A STOP AT LAST WEEKS LOWS


Back to Near-Term Bullish on SPX and Nasdaq 100; Supports Held at SPX 6480-6520 and QQQ $580-583

iShares Russell 2000 ETF / Technical Analysis

<ul>
<li>The market continues to send mixed signals - some neutral or healthy signals but some risk-off signals as well.</li>
<li>As long as the Russell 2000 index (IWM) is above $208, Russell Micro Cap index (IWC) is above $134-$135, and the S&amp;P 500 is above 4495, we cannot be bearish.</li>
<li>Treasury yields are not breaking down below 1.40%-1.45% support on the 10-year Treasury yield and 1.76% support on the 30-year Treasury yield.</li>
</ul>


The market continues to send mixed signals - some neutral or healthy signals but some risk-off signals as well.
As long as the Russell 2000 index (IWM) is above $208, Russell Micro Cap index (IWC) is above $134-$135, and the S&amp;P 500 is above 4495, we cannot be bearish.
Treasury yields are not breaking down below 1.40%-1.45% support on the 10-year Treasury yield and 1.76% support on the 30-year Treasury yield.


Continued Absence Of Breakdowns Is A Positive Sign; Many Bottoms-Up Stock Recommendations

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

<p><a href="https://www.smartkarma.com/entities/inari-medical-inc" target="_blank" data-smartkarma-citation="entities:34650:1" rel="noopener">Inari Medical (NARI US)</a> , American high-growth venous company went public in 2020. Medical device firm priced IPO at $19.00 per share, sold ~8.2 million shares and raised net proceeds of more than $150 million. Inari Medical stock significantly outperformed when compared to peers and rose 300%+ since IPO. We believe Inari Medical can continue its growth trajectory over the next 3-4 years keeping in mind relocating into 120K sq. ft. facility in Irvine, California, what allows to more than double manufacturing capacity. Moreover, the company has already completed ClotTriever and FlowTriever cases across major countries in Western Europe and plans to expand into APAC region – China and Japan, in the foreseeable future.     </p>

Inari Medical (NARI US) , American high-growth venous company went public in 2020. Medical device firm priced IPO at $19.00 per share, sold ~8.2 million shares and raised net proceeds of more than $150 million. Inari Medical stock significantly outperformed when compared to peers and rose 300%+ since IPO. We believe Inari Medical can continue its growth trajectory over the next 3-4 years keeping in mind relocating into 120K sq. ft. facility in Irvine, California, what allows to more than double manufacturing capacity. Moreover, the company has already completed ClotTriever and FlowTriever cases across major countries in Western Europe and plans to expand into APAC region – China and Japan, in the foreseeable future.     

Inari Medical: Innovative Devices For the Treatment of Venous Diseases

<p>The weight of the evidence suggests that the pullback has begun. This belief is supported by overbought conditions combined with the S&amp;P 500, MSCI ACWI, and nearly all Sectors hitting logical resistance. Assuming the pullback continues, the next question is how deep or damaging will it be? In this report we highlight various market/technical indicators we are monitoring, as well as pointing out attractive set ups within Consumer Discretionary and Health Care Sectors.</p>

The weight of the evidence suggests that the pullback has begun. This belief is supported by overbought conditions combined with the S&amp;P 500, MSCI ACWI, and nearly all Sectors hitting logical resistance. Assuming the pullback continues, the next question is how deep or damaging will it be? In this report we highlight various market/technical indicators we are monitoring, as well as pointing out attractive set ups within Consumer Discretionary and Health Care Sectors.

U.S. Equity Strategy: Has “the Pullback” Begun?

United States

AngioDynamics, Inc. designs, develops, manufactures, and markets therapeutic and diagnostic devices.  The Company's products enable interventional physicians to treat peripheral vascular disease and other non-coronary diseases. AngioDynamic's product lines consist of angiographic catheters, hemodialysis catheters, image guided vascular access products, and thrombolytic products.

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Angiodynamics Inc (ANGO US)

Closing 5 ideas | Jan 13, 2025

I am taking several off the list, first one being Angiodynamics (ANGO) written up here . It jumped in the past week on a slightly improved forecast...

Turtles all the way down

Back to Near-Term Bullish on SPX and Nasdaq 100; Supports Held at SPX 6480-6520 and QQQ $580-583

Back to Near-Term Bullish on $SPX and Nasdaq 100 $NDX; Crucial Supports Held at 6480-6520 on SPX and $580-$583 on $QQQ, we are near-term bullish as...

Vermilion Research

Continued Absence Of Breakdowns Is A Positive Sign; Many Bottoms-Up Stock Recommendations

As long as the Russell 2000 index (IWM) is above $208, the Russell Micro Caps index (IWC) is above $134-$135, and the S&P 500 is above 4495, we...

Vermilion Research

Inari Medical: Innovative Devices For the Treatment of Venous Diseases

Inari Medical is well positioned to gain share in a $4B+ market and there is ample room for growth for market leader targeting venous diseases

Andrei Zakharov

U.S. Equity Strategy: Has “the Pullback” Begun?

The weight of the evidence suggests that the pullback has begun. This belief is supported by overbought conditions combined with the S&P 500,...

Vermilion Research

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