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

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index.  In today’s report we take a bottoms-up view on developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities within the Communications, Health Care, Manufacturing, Materials, Technology, Transportation, and Utilities Sectors

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index.  In today’s report we take a bottoms-up view on developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities within the Communications, Health Care, Manufacturing, Materials, Technology, Transportation, and Utilities Sectors

Bottoms-Up View on Developed Markets: Actionable Stocks, Part 2

The MSCI ACWI advanced to another new high yesterday - to levels not seen since mid-March with the U.S. and Emerging Markets leading the move. While potential resistance levels exist, recent developments only bolster our already positive outlook.  In today's report, we highlight actionable setups within our global Technology, and Real Estate Developers and REITs Groups.

The MSCI ACWI advanced to another new high yesterday - to levels not seen since mid-March with the U.S. and Emerging Markets leading the move. While potential resistance levels exist, recent developments only bolster our already positive outlook.  In today's report, we highlight actionable setups within our global Technology, and Real Estate Developers and REITs Groups.

MSCI ACWI’s Advance Continues: U.S. And Emerging Markets Leading the Way

The MSCI ACWI and S&amp;P 500 have both achieved a higher high relative to mid-April prices, which we see as a potential early indication of a bullish trend change. Combine this with improving market internals and we are becoming incrementally more bullish. For the MSCI ACWI, one of the more concerning breadth indicators has been the percentage of stocks above their 200-day moving average. This indicator recently hit a higher high (see below, left), a positive development that confirms the market’s recent advance. In today's report we highlight opportunities within global Energy and Technology companies, two of our overweights.

The MSCI ACWI and S&amp;P 500 have both achieved a higher high relative to mid-April prices, which we see as a potential early indication of a bullish trend change. Combine this with improving market internals and we are becoming incrementally more bullish. For the MSCI ACWI, one of the more concerning breadth indicators has been the percentage of stocks above their 200-day moving average. This indicator recently hit a higher high (see below, left), a positive development that confirms the market’s recent advance. In today's report we highlight opportunities within global Energy and Technology companies, two of our overweights. 

Global Energy Shares Breaking Out; Technology Remains Attractive

Senior Bank Analyst - Japanese Banks, Windamee Research

J. Brian Waterhouse

Senior Bank Analyst - Japanese Banks

Windamee Research

Japanese Banks

Equity Bottom-Up

Fukuoka Financial Group / Equity Bottom-Up

The formal decision by Japan's Fair Trade Commission (FTC) not to approve the merger of <a href="https://www.smartkarma.com/entities/11060" target="_blank" data-smartkarma-citation="entities:11060:1">Eighteenth Bank Ltd/The (8396 JP)</a> with <a href="https://www.smartkarma.com/entities/3712" target="_blank" data-smartkarma-citation="entities:3712:1">Fukuoka Financial Group Inc (8354 JP)</a> member Shinwa Bank, unless both banks shed substantial chunks of their loan portfolios in Nagasaki Prefecture, is no surprise, but creates a dilemma for all concerned.  It also potentially improves the chances of other rival banking groups approaching Eighteenth Bank to join them, rather than FFG.  Whatever the case, it looks like…

The formal decision by Japan's Fair Trade Commission (FTC) not to approve the merger of Eighteenth Bank Ltd/The (8396 JP) with Fukuoka Financial Group Inc (8354 JP) member Shinwa Bank, unless both banks shed substantial chunks of their loan portfolios in Nagasaki Prefecture, is no surprise, but creates a dilemma for all concerned.  It also potentially improves the chances of other rival banking groups approaching Eighteenth Bank to join them, rather than FFG.  Whatever the case, it looks like…

FTC Decision Redraws the Battle Lines in Kyushu

Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

Thematic (Sector/Industry)

As I have mentioned before, a long time ago I worked at Panasonic in their IR department. One day when I was bored, I went to the Accounting department to see what was in Other Assets. One of the girls gave me an itemized list and at the bottom of that list was another Other category. Yes, in Other Assets is Other Assets.I asked to see what was in Other in Other Assets as it was 90% of the total. She just laughed and said that the Other in Other Assets was so confusing that there is no way to…

As I have mentioned before, a long time ago I worked at Panasonic in their IR department. One day when I was bored, I went to the Accounting department to see what was in Other Assets. One of the girls gave me an itemized list and at the bottom of that list was another Other category. Yes, in Other Assets is Other Assets.I asked to see what was in Other in Other Assets as it was 90% of the total. She just laughed and said that the Other in Other Assets was so confusing that there is no way to…

Names with Too Much "Other" On the Balance Sheet....

Japan

BIPROGY Inc. offers technology services. The Company provides cloud computing and outsourcing, computer and network system sales, software development and sales, system related services, and other services. BIPROGY provides its services throughout Japan.

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BIPROGY (8056 JP)

Bottoms-Up View on Developed Markets: Actionable Stocks, Part 2

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index. In today’s report...

Vermilion Research

MSCI ACWI’s Advance Continues: U.S. And Emerging Markets Leading the Way

The MSCI ACWI advanced to another new high yesterday - to levels not seen since mid-March with the U.S. and Emerging Markets leading the move....

Vermilion Research

Global Energy Shares Breaking Out; Technology Remains Attractive

The MSCI ACWI and S&P 500 have both achieved a higher high relative to mid-April prices, which we see as a potential early indication of a...

Vermilion Research

FTC Decision Redraws the Battle Lines in Kyushu

The formal decision by Japan's Fair Trade Commission (FTC) not to approve the merger of Eighteenth Bank Ltd/The (8396 JP) with Fukuoka Financial...

J. Brian Waterhouse

Names with Too Much "Other" On the Balance Sheet....

As I have mentioned before, a long time ago I worked at Panasonic in their IR department. One day when I was bored, I went to the Accounting...

Custom Products Group

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52-week Range

Market Cap (USDm)

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