Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Chartonics flash Tuesday 30 August 2016USD/JPY macro low and position update webcast<div>We have made a USD bull case from JPY 100 or 95 if we broke below 100 with a bull pivot above USD/JPY 101 which was triggered Friday. The bigger test revolves around USD sustainability above 101 and a successful test on the lower 101 pullback zone followed by a move through the second hurdle at 102.70. MT pivot resistance lies at 104 (macro bull targets come in at 110 and 114 with ideal objective at 114/117 in…</div>

Chartonics flash Tuesday 30 August 2016USD/JPY macro low and position update webcastWe have made a USD bull case from JPY 100 or 95 if we broke below 100 with a bull pivot above USD/JPY 101 which was triggered Friday. The bigger test revolves around USD sustainability above 101 and a successful test on the lower 101 pullback zone followed by a move through the second hurdle at 102.70. MT pivot resistance lies at 104 (macro bull targets come in at 110 and 114 with ideal objective at 114/117 in…

USD/JPY Macro Low and Fresh Position Webcast

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The correct long-term thing to do is, and the right short-term trade don't match. Best to sell <a href="https://www.smartkarma.com/entities/mcj-co-ltd" target="_blank" data-smartkarma-citation="entities:14132:1" rel="noopener">MCJ (6670 JP)</a> above the tender offer price or at the offer price.</li>
<li>At 6.1x forward EV/EBITDA - and ~80% discount to NAV - <a href="https://www.smartkarma.com/entities/avichina-industry-technology-h" target="_blank" data-smartkarma-citation="entities:16315:1" rel="noopener">AviChina Industry &amp; Technology H (2357 HK)</a> is not expensive.</li>
<li>An interesting fact pattern appears like it might be a setup for a significant change in capital structure for <a href="https://www.smartkarma.com/entities/tokyo-steel-mfg-co-ltd" target="_blank" data-smartkarma-citation="entities:16195:1" rel="noopener">Tokyo Steel Mfg (5423 JP) T</a> related to the former CEO</li>
</ul>


The correct long-term thing to do is, and the right short-term trade don't match. Best to sell MCJ (6670 JP) above the tender offer price or at the offer price.
At 6.1x forward EV/EBITDA - and ~80% discount to NAV - AviChina Industry &amp; Technology H (2357 HK) is not expensive.
An interesting fact pattern appears like it might be a setup for a significant change in capital structure for Tokyo Steel Mfg (5423 JP) T related to the former CEO


Last Week In Event SPACE: MCJ, AviChina, Tokyo Steel Mfg, 3SBio

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Index Rebalance

<ul>
<li>JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. The index has a complex selection methodology that considers size, fundamentals, and governance factors.</li>
<li>The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs each month.</li>
<li>Below is a look at potential Inclusions and Removals for the JPX-Nikkei 400 Rebalance scheduled for August 2026 based on trading data as of end-March 2026.</li>
</ul>


JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. The index has a complex selection methodology that considers size, fundamentals, and governance factors.
The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs each month.
Below is a look at potential Inclusions and Removals for the JPX-Nikkei 400 Rebalance scheduled for August 2026 based on trading data as of end-March 2026.


Quiddity JPX-Nikkei 400 Rebal 2026: End-Mar 2026 Ranks

Travis Lundy

TSE Tokyo Price Index TOPIX / Event-Driven

<ul>
<li>In April 2022, after long prep and considerable public comment as to desires and design, the TSE launched its new market segments designed to encourage governance and foreign investment.</li>
<li>At the time, the TSE wanted to showcase Japan's best blue chips. In March, JPX announced JPX Prime 150, designed to make visible</li>
<li>In March 2023, JPX announced JPX Prime 150, to "make visible the leading Japanese companies that are estimated to create value." Ambitious? Yes. Fated to fail? Probably. Badly constructed?  Definitely. </li>
</ul>


In April 2022, after long prep and considerable public comment as to desires and design, the TSE launched its new market segments designed to encourage governance and foreign investment.
At the time, the TSE wanted to showcase Japan's best blue chips. In March, JPX announced JPX Prime 150, designed to make visible
In March 2023, JPX announced JPX Prime 150, to "make visible the leading Japanese companies that are estimated to create value." Ambitious? Yes. Fated to fail? Probably. Badly constructed?  Definitely. 


The TSE's New 'Better' Index:  JPX Prime 150

<ul>
<li>As designed, the JPX-Nikkei400 Index is something of a disaster. It aims to be slightly 'smart' vs other cap-weighted indices like TOPIX, but tracking error vs TOPIX is de minimus.</li>
<li>This year, in week 1, the ADD vs DELETE performance is positive. If we sector-hedge the ADDs vs DELETEs, it's doing even better.</li>
<li>This is probably due to relatively low pre-positioning, and cares. Momentum suggests one could be long ADDs vs DELETEs. And there is the perennial trade to watch out for.</li>
</ul>


As designed, the JPX-Nikkei400 Index is something of a disaster. It aims to be slightly 'smart' vs other cap-weighted indices like TOPIX, but tracking error vs TOPIX is de minimus.
This year, in week 1, the ADD vs DELETE performance is positive. If we sector-hedge the ADDs vs DELETEs, it's doing even better.
This is probably due to relatively low pre-positioning, and cares. Momentum suggests one could be long ADDs vs DELETEs. And there is the perennial trade to watch out for.


2022 JPX Nikkei 400 Rebal Update - Going the Right Way

Japan

TOKYO STEEL MANUFACTURING CO., LTD. is an electric furnace steel manufacturer. The Company manufactures and sells steel bars, varieties of steel materials, and specialized steel products, including H beams, universal plates, and I beams. Tokyo Steel also operates financial, real estate, insurance, restaurant, and sports complex management businesses.

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Tokyo Steel Mfg (5423 JP)

USD/JPY Macro Low and Fresh Position Webcast

Chartonics flash Tuesday 30 August 2016USD/JPY macro low and position update webcastWe have made a USD bull case from JPY 100 or 95 if we broke...

Thomas Schroeder

Last Week In Event SPACE: MCJ, AviChina, Tokyo Steel Mfg, 3SBio

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Quiddity JPX-Nikkei 400 Rebal 2026: End-Mar 2026 Ranks

There are currently 50 Potential ADDs and 48 Potential DELs (unique names) presented in the current Quiddity Leaderboard. There are three months...

Janaghan Jeyakumar, CFA

The TSE's New 'Better' Index: JPX Prime 150

The TSE is launching a new JPX Prime 150 Index on 3 July 2023. It is 150 stocks with high PBRs and high "Equity Spread" (ROE vs cost of capital)...

Travis Lundy

2022 JPX Nikkei 400 Rebal Update - Going the Right Way

JPX Nikkei 400 rebalance is going the right way in the 6 trading days so far, and it wasn't done on Day1 (which was lacklustre). It may be under...

Travis Lundy

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