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

And just like that, the S&amp;P 500, Nasdaq, and the Dow have reclaimed new highs despite ongoing coronavirus concerns, as a buy the dip strategy has paid off. Primarily responsible for new highs in these indexes is Technology (esp. software and semis/semi suppliers) and FAANG stocks. While these areas all remain bullish, we still have some reservations due to the massive disparity in performance between them and the Materials (XLB, XME) and Energy (RYE) Sectors, and also small-caps (IWM) which continue to hit new RS lows. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Financials: Homebuilding, Large-Cap, Casinos &amp; Gaming, Small-Cap, Asset Management &amp; Custody Banks, Large-Cap, and Investment Banking &amp; Brokerage, Small-Cap.

And just like that, the S&amp;P 500, Nasdaq, and the Dow have reclaimed new highs despite ongoing coronavirus concerns, as a buy the dip strategy has paid off. Primarily responsible for new highs in these indexes is Technology (esp. software and semis/semi suppliers) and FAANG stocks. While these areas all remain bullish, we still have some reservations due to the massive disparity in performance between them and the Materials (XLB, XME) and Energy (RYE) Sectors, and also small-caps (IWM) which continue to hit new RS lows. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Financials: Homebuilding, Large-Cap, Casinos &amp; Gaming, Small-Cap, Asset Management &amp; Custody Banks, Large-Cap, and Investment Banking &amp; Brokerage, Small-Cap.

U.S. Equities: Still Bullish, With Reservations

This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same time, small-caps continue to be one area of the market that gives us some reason for pause as neither the Russell 2000 or S&amp;P Small Cap 600 indexes have been able to make bullish price or RS inflections. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Financials: Large- and Small-Cap Casinos &amp; Gaming , Banks, Super-Regional, and Asset Management &amp; Custody Banks, Large-Cap.

This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same time, small-caps continue to be one area of the market that gives us some reason for pause as neither the Russell 2000 or S&amp;P Small Cap 600 indexes have been able to make bullish price or RS inflections. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Financials: Large- and Small-Cap Casinos &amp; Gaming , Banks, Super-Regional, and Asset Management &amp; Custody Banks, Large-Cap.

U.S. Equity Strategy: Waiting on Small-Caps

The primary trend in U.S. equity markets remains bullish, and the usual suspects continue to lead: growth (Tech and FANG), homebuilders, industrials, etc.  Yet unusually bullish price patterns continue to develop in long-term laggards like energy (esp. E&amp;Ps), retail (XRT), and engineering &amp; construction (JEC).  We view this stabilization, or participation, in weak segments as a boost to the market’s breadth, a point of contention in recent months for some, who have pointed out that fewer stocks are trading above their 200-day moving averages.  Attractive entry points are also visible in many cyclical Groups, especially Casinos and Investment Banks.  In today’s report we highlight actionable charts in both Groups... see pages 8-24]

The primary trend in U.S. equity markets remains bullish, and the usual suspects continue to lead: growth (Tech and FANG), homebuilders, industrials, etc.  Yet unusually bullish price patterns continue to develop in long-term laggards like energy (esp. E&amp;Ps), retail (XRT), and engineering &amp; construction (JEC).  We view this stabilization, or participation, in weak segments as a boost to the market’s breadth, a point of contention in recent months for some, who have pointed out that fewer stocks are trading above their 200-day moving averages.  Attractive entry points are also visible in many cyclical Groups, especially Casinos and Investment Banks.  In today’s report we highlight actionable charts in both Groups... see pages 8-24]

U.S. Equity Weekly: Actionable Ideas in Casinos, Investment Banks

United States

Churchill Downs Incorporated is a horse racing company whose flagship operation, Churchill Downs, is the home of the Kentucky Derby.  The Company has additional racing and simulcast-wagering operations in Kentucky, Indiana, and Florida, as well as interests in various racing services companies.

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Churchill Downs (CHDN US)

U.S. Equities: Still Bullish, With Reservations

And just like that, the S&P 500, Nasdaq, and the Dow have reclaimed new highs despite ongoing coronavirus concerns, as a buy the dip strategy...

Vermilion Research

U.S. Equity Strategy: Waiting on Small-Caps

This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same...

Vermilion Research

U.S. Equity Weekly: Actionable Ideas in Casinos, Investment Banks

The primary trend in U.S. equity markets remains bullish, and the usual suspects continue to lead: growth (Tech and FANG), homebuilders,...

Vermilion Research

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52-week Range

Market Cap (USDm)

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