Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>Based on prices and turnover from 10 July, there could be one deletion from the index in July. Plus there will be capping and float changes.</li>
<li>There are four stocks that meet the inclusion criteria but all are non-pure play companies and the index is already at the limit of 15 non-pure play companies.</li>
<li>There will be a large impact on a lot of stocks but the flows are not very large due to the limited assets tracking the index.</li>
</ul>


Based on prices and turnover from 10 July, there could be one deletion from the index in July. Plus there will be capping and float changes.
There are four stocks that meet the inclusion criteria but all are non-pure play companies and the index is already at the limit of 15 non-pure play companies.
There will be a large impact on a lot of stocks but the flows are not very large due to the limited assets tracking the index.


Solactive Global Uranium & Nuclear Components Index Rebalance Preview: Potential Changes

Research Firm with a Qualitative Overlay, Pearl Gray Equity and Research

Pearl Gray Equity and Research

Research Firm with a Qualitative Overlay

Quantitative fund & research firm with a qualitative overlay. 

Our coverage: General U.S. with a skew towards the primary sector. 

Methods: Smart Beta/Factor Pricing, Neural Networks, Street Gossip, and Common Sense.

Equity Bottom-Up

<ul>
<li>Cameco Corporation is in the middle of a substantial turnaround, which investors could soon price.</li>
<li>The company's financial results improved in 2022, it has secured a record number of supply contracts.</li>
<li>The momentum anomaly is set to play its hand, but the stock still possesses valuation concerns, according to the company.</li>
</ul>


Cameco Corporation is in the middle of a substantial turnaround, which investors could soon price.
The company's financial results improved in 2022, it has secured a record number of supply contracts.
The momentum anomaly is set to play its hand, but the stock still possesses valuation concerns, according to the company.


Cameco: The Tide Has Turned, Bet On Momentum

<ul>
<li>Plans are being made to reroute Inkai's production to avoid Russian infrastructure and port reliance.</li>
<li>The firm's joint acquisition of equipment supplier, Westinghouse, might add valuable cost synergies and improve Cameco's economies of scope.</li>
<li>Uranium prices remain supportive, and an operational pivot could realign Cameco stock's valuation.</li>
</ul>


Plans are being made to reroute Inkai's production to avoid Russian infrastructure and port reliance.
The firm's joint acquisition of equipment supplier, Westinghouse, might add valuable cost synergies and improve Cameco's economies of scope.
Uranium prices remain supportive, and an operational pivot could realign Cameco stock's valuation.


Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Thematic (Sector/Industry)

<ul><li>What you need to know: We are expecting demand for uranium to scale upward over the next 5+ years due to decarbonization and energy security trends</li><li>Limited brownfield projects and the lack of incentive for greenfield projects at $50/lb U3O8 will create a supply/demand imbalance</li><li>The new utility contracting cycle and Sprott Trust will continue to create price momentum for spot uranium While demand for uranium continues to progress higher due to shifting government policies to meet decarbonization goals and the newfound focus on energy independence, spot prices remain too low to incentivize new production.</li></ul>

What you need to know: We are expecting demand for uranium to scale upward over the next 5+ years due to decarbonization and energy security trendsLimited brownfield projects and the lack of incentive for greenfield projects at $50/lb U3O8 will create a supply/demand imbalanceThe new utility contracting cycle and Sprott Trust will continue to create price momentum for spot uranium While demand for uranium continues to progress higher due to shifting government policies to meet decarbonization goals and the newfound focus on energy independence, spot prices remain too low to incentivize new production.

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>Key supports are currently being tested at 3900-3910 on the S&amp;P 500, $293 on the Nasdaq 100 (QQQ), and $177-178 on the Russell 2000 (IWM).</li>
<li>We see a bounce as possible at these levels, but breaks below these levels would virtually guarantee a test of the YTD lows -- or worse.</li>
<li>WTI crude oil is breaking below the critical $85 support level, confirming a major top in place. The Bloomberg commodity index needs to break $32.50 to confirm a major top.</li>
</ul>


Key supports are currently being tested at 3900-3910 on the S&amp;P 500, $293 on the Nasdaq 100 (QQQ), and $177-178 on the Russell 2000 (IWM).
We see a bounce as possible at these levels, but breaks below these levels would virtually guarantee a test of the YTD lows -- or worse.
WTI crude oil is breaking below the critical $85 support level, confirming a major top in place. The Bloomberg commodity index needs to break $32.50 to confirm a major top.


S&P 500 Testing 3900 Support; Commodities, WTI Crude Oil Topping?; Buying Uranium, Ag Equipment

Canada

Cameco Corporation explores, develops, mines, refines, converts, and fabricates uranium. The Company offers uranium for sale as fuel for generating electricity in nuclear power reactors. Cameco operates worldwide.

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Cameco Corp (CCO CN)

Solactive Global Uranium & Nuclear Components Index Rebalance Preview: Potential Changes

There could be 1 deletion for the index in July. There could be up to 3 inclusions if they are classified as pure-play companies. Impact is large...

Brian Freitas

Cameco: The Tide Has Turned, Bet On Momentum

Cameco Corporation is in the middle of a substantial turnaround, which investors could soon price. The company's financial results improved in...

Pearl Gray Equity and Research

Cameco: A Turnaround Is En Route

The firm's joint acquisition of equipment supplier, Westinghouse, might add valuable cost synergies and improve Cameco's economies of scope.

Pearl Gray Equity and Research

Uranium: Asymmetry at its Finest

What you need to know: We are expecting demand for uranium to scale upward over the next 5+ years due to decarbonization and energy security trends

Atrium Research

S&P 500 Testing 3900 Support; Commodities, WTI Crude Oil Topping?; Buying Uranium, Ag Equipment

Key supports are currently being tested at 3900-3910 on $SPX, $293 on the $QQQ $NDX, and $177-178 on the $IWM. WTI crude oil is breaking below $85;...

Vermilion Research

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