Alpha-Centric ESG Research

Kyle Rudden

COVID-19 vaccines figure into Biden's recently-announced COVID-19 response plan, though with a clear emphasis on distribution versus development (as was Trump's focus). Biden's prioritisation of vaccine distribution – and the US$25 billion earmarked for it – is a gift for "cold chain" stocks."Cold chain" refers to a complex temperature-controlled supply chain that is mission-critical to the distribution of COVID-19 vaccines. Critical, because vaccines require consistent ultra-cold storage from manufacture to needle-stick, otherwise those expensive vaccines become medical waste.This Insight looks at cold chain stocks as an investment theme inherent in Biden's COVID-19 plan (see <a href="https://www.smartkarma.com/insights/biden-covid-19-response-plan-overview-of-its-inherent-investment-themes" target="_blank" data-smartkarma-citation="insights:45631" rel="noopener">Biden COVID-19 Response Plan: Overview of Its Inherent Investment Themes</a>). Although the cold chain is fragmented and largely privately-held, but there are opportunities in three areas:<ol>
<li>
Freight and Logistics: Most listed companies fall into this category, including both integrated cold chain freight and logistics stocks, as well as niche players in either of freight or logistics.</li>
<li>
Freezer Manufacturers: Ultra-cold freezer boxes and related industrial components of various shapes and sizes are needed for the cold chain to function. Several stocks serve this segment.</li>
<li>
Specialty Chemicals: Dry ice gets all the headlines, as massive amounts are needed but supply is short, but other specialty chemicals and industrial gases are also needed in the cold chain.</li>
</ol>

COVID-19 vaccines figure into Biden's recently-announced COVID-19 response plan, though with a clear emphasis on distribution versus development (as was Trump's focus). Biden's prioritisation of vaccine distribution – and the US$25 billion earmarked for it – is a gift for "cold chain" stocks."Cold chain" refers to a complex temperature-controlled supply chain that is mission-critical to the distribution of COVID-19 vaccines. Critical, because vaccines require consistent ultra-cold storage from manufacture to needle-stick, otherwise those expensive vaccines become medical waste.This Insight looks at cold chain stocks as an investment theme inherent in Biden's COVID-19 plan (see Biden COVID-19 Response Plan: Overview of Its Inherent Investment Themes). Although the cold chain is fragmented and largely privately-held, but there are opportunities in three areas:

Freight and Logistics: Most listed companies fall into this category, including both integrated cold chain freight and logistics stocks, as well as niche players in either of freight or logistics.

Freezer Manufacturers: Ultra-cold freezer boxes and related industrial components of various shapes and sizes are needed for the cold chain to function. Several stocks serve this segment.

Specialty Chemicals: Dry ice gets all the headlines, as massive amounts are needed but supply is short, but other specialty chemicals and industrial gases are also needed in the cold chain.


Biden COVID-19 Response Plan: Cold Chain Transportation and Logistics Stocks Benefit

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

Select Medical Holdings / Technical Analysis

<ul>
<li>We are starting to see some positive signals that suggest the lows for this bear market may have already been established, or that additional downside is limited from here.</li>
<li>We need to see downtrend reversals (get above 4030-4040 on SPX, $189 on IWM, and $115 on IWC) and for the NDX(QQQ) to break above $315, to get more constructive.</li>
<li>Positive signals include, among other things: the Financial Sector (XLF) and Broker-Dealers/Exchanges ETF (IAI) are reversing topside their 4-5-month downtrends.</li>
</ul>


We are starting to see some positive signals that suggest the lows for this bear market may have already been established, or that additional downside is limited from here.
We need to see downtrend reversals (get above 4030-4040 on SPX, $189 on IWM, and $115 on IWC) and for the NDX(QQQ) to break above $315, to get more constructive.
Positive signals include, among other things: the Financial Sector (XLF) and Broker-Dealers/Exchanges ETF (IAI) are reversing topside their 4-5-month downtrends.


Downgrading Utilities & Staples to Market Weight; Buy Ideas in Health Care & Trucking

iShares Russell 2000 ETF / Technical Analysis

We continue to believe we are nearing the end of the "mixed market environment," and the beginning of a new, broad-based bull market advance. With that said, we are still waiting for confirmation in the form of breakouts for small-caps (IWM) and Industrials (XLI) in order to turn bullish. Additionally, we would like to see MSCI China (MCHI) break above $74 resistance; this would be a major boon for risk sentiment.Charts highlighted: Russell 2000 (IWM), SOXX, XTN, GLD vs. SPY, TNX, S&amp;P 500, AMD, MRVL, XLNX, STM, MPWR, ON, ENPH, SEDG, FSLR, RUN, SPWR, CSIQ, SOL, ODFL, JBHT, KNX, LSTR, SAIA, SNDR, ARCB, MRTN, PTSI, YELL, and USAK

We continue to believe we are nearing the end of the "mixed market environment," and the beginning of a new, broad-based bull market advance. With that said, we are still waiting for confirmation in the form of breakouts for small-caps (IWM) and Industrials (XLI) in order to turn bullish. Additionally, we would like to see MSCI China (MCHI) break above $74 resistance; this would be a major boon for risk sentiment.Charts highlighted: Russell 2000 (IWM), SOXX, XTN, GLD vs. SPY, TNX, S&amp;P 500, AMD, MRVL, XLNX, STM, MPWR, ON, ENPH, SEDG, FSLR, RUN, SPWR, CSIQ, SOL, ODFL, JBHT, KNX, LSTR, SAIA, SNDR, ARCB, MRTN, PTSI, YELL, and USAK

U.S. Equity Strategy: All Eyes On The Small Cap Russell 2000. Buying Semiconductors, Solar, Truckers

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&amp;P 500 is headed next. We also highlight several attractive stocks from a relative strength perspective across Sectors.

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&amp;P 500 is headed next. We also highlight several attractive stocks from a relative strength perspective across Sectors.

U.S. Equities: Upside Momentum Lost, But Not Breaking Down

As the major averages break topside their respective 50-day M.A.s - a positive in its own right - we are encouraged by the shift away from growth &amp; defensives toward the down-and-out laggards in the value arena. It is too early to tell for certain if these are anything more than short-term countertrend moves, but for now the moves we are seeing give us reason for optimism -- something that was running very low just one week ago. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary, Manufacturing, and Transportation: Homebuilding, Small-Cap, Auto Parts, Large-Cap, Trucking, Large-Cap, and Trucking, Small-Cap.

As the major averages break topside their respective 50-day M.A.s - a positive in its own right - we are encouraged by the shift away from growth &amp; defensives toward the down-and-out laggards in the value arena. It is too early to tell for certain if these are anything more than short-term countertrend moves, but for now the moves we are seeing give us reason for optimism -- something that was running very low just one week ago. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary, Manufacturing, and Transportation: Homebuilding, Small-Cap, Auto Parts, Large-Cap, Trucking, Large-Cap, and Trucking, Small-Cap.

U.S. Equity Strategy: Value Closes the Gap on Growth

United States

Marten Transport, Ltd. is a long-haul truckload carrier providing protective service and time-sensitive transportation.  The Company specializes in protective service transportation of foods and other products requiring temperature-controlled carriage or insulated carriage.  Marten also provides dry freight carriage.

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Marten Transport (MRTN US)

Biden COVID-19 Response Plan: Cold Chain Transportation and Logistics Stocks Benefit

Biden's COVID-19 response plan earmarks US$25 billion to vaccines, but with a twist. His emphasis is vaccine distribution, not development. That...

Kyle Rudden

Downgrading Utilities & Staples to Market Weight; Buy Ideas in Health Care & Trucking

Positive developments are popping up, such as bullish reversals of 4-5-month downtrends for Financials $XLF and Broker-Dealers/Exchanges $IAI ....

Vermilion Research

U.S. Equity Strategy: All Eyes On The Small Cap Russell 2000. Buying Semiconductors, Solar, Truckers

The PHLX Semiconductor index (SOXX) and the equal-weighted Transportation Sector (XTN) are the latest cyclical areas to break out to new YTD...

Vermilion Research

U.S. Equities: Upside Momentum Lost, But Not Breaking Down

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&P 500 is headed...

Vermilion Research

U.S. Equity Strategy: Value Closes the Gap on Growth

As the major averages break topside their respective 50-day M.A.s - a positive in its own right - we are encouraged by the shift away from growth...

Vermilion Research

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