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>Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.</li>
<li>Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback <em>again</em>.</li>
<li>We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).</li>
</ul>


Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.
Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback again.
We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).


Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

<ul>
<li>Mega-Cap growth names such as AMZN, TSLA, MSFT, GOOGL, and META have picked up the slack as semiconductors (SMH, SOXX, NVDA, AVGO, etc.) are simply consolidating after getting extended.</li>
<li>This was a possibility we discussed in last week's Compass (6/25/24), which means we are not seeing any lasting rotation away from large-cap growth.</li>
<li>We remain bullish on all names listed (including the semiconductors), and we continue to recommend an overweight to large-cap growth (relative to value) as initially discussed in our 5/29/24 Compass</li>
</ul>


Mega-Cap growth names such as AMZN, TSLA, MSFT, GOOGL, and META have picked up the slack as semiconductors (SMH, SOXX, NVDA, AVGO, etc.) are simply consolidating after getting extended.
This was a possibility we discussed in last week's Compass (6/25/24), which means we are not seeing any lasting rotation away from large-cap growth.
We remain bullish on all names listed (including the semiconductors), and we continue to recommend an overweight to large-cap growth (relative to value) as initially discussed in our 5/29/24 Compass


Remain Overweight Large-Cap Growth; Downgrading Materials to Underweight; Software Buys $MSTR $CRWD

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Enterprise Products Partners / Equity Bottom-Up

<ul><li>Enterprise Products Partners' results were a major disappointment as it failed to meet the revenue as well as the earnings expectations of Wall Street.</li><li>Despite challenging market conditions with lower prices for various energy products, Enterprise Products Partners delivered a resilient financial performance in the year's second quarter.</li><li>Furthermore, Enterprise Products Partners achieved several operational momentums during the quarter, underscoring its operational excellence and commitment to delivering value to its stakeholders.</li></ul>

Enterprise Products Partners' results were a major disappointment as it failed to meet the revenue as well as the earnings expectations of Wall Street.Despite challenging market conditions with lower prices for various energy products, Enterprise Products Partners delivered a resilient financial performance in the year's second quarter.Furthermore, Enterprise Products Partners achieved several operational momentums during the quarter, underscoring its operational excellence and commitment to delivering value to its stakeholders.

Enterprise Products Partners L.P.: Overcoming Low Prices & Still Delivering! - Major Drivers

<ul><li>Enterprise Products Partners delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus.</li><li>Enterprise Product Partners remains on track with significant projects, aiming to put approximately $3.8 billion into service this year.</li><li>We give Enterprise Products Partners a 'Hold' rating with a revised target price.</li></ul>

Enterprise Products Partners delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus.Enterprise Product Partners remains on track with significant projects, aiming to put approximately $3.8 billion into service this year.We give Enterprise Products Partners a 'Hold' rating with a revised target price.

Enterprise Product Partners: Does It Have Any Kind Of Competitive Advantage? – Financial Forecasts

<ul><li>Enterprise Product Partners delivered a mixed set of results in the quarter.</li><li>Enterprise moved a record 11.2 million barrels of oil equivalent per day which helped it deliver an all-around beat.</li><li>They believe that a wide gas-to-crude differential could result in a considerable cost advantage for American petrochemicals globally.</li></ul>

Enterprise Product Partners delivered a mixed set of results in the quarter.Enterprise moved a record 11.2 million barrels of oil equivalent per day which helped it deliver an all-around beat.They believe that a wide gas-to-crude differential could result in a considerable cost advantage for American petrochemicals globally.

Enterprise Product Partners: Major Drivers

United States

Enterprise Products Partners, L.P. provides processing and transportation services to producers and consumers of natural gas liquids. The Company generally processes products that are ultimately used as feedstocks in petrochemical manufacturing in the production of motor gasoline, and as fuel for residential and commercial heating.

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Enterprise Products Partners (EPD US)

Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

Buy the Pullback Again, Same as Our Election Day Report; S&P 500 $SPX, Nasdaq 100 $QQQ, Russell 2000 $IWM Testing Confluence of Support at 20-day...

Vermilion Research

Remain Overweight Large-Cap Growth; Downgrading Materials to Underweight; Software Buys $MSTR $CRWD

Remain Overweight Large-Cap Growth $IWF as discussed 5/29/24; Downgrading Materials $XLB to Underweight; Buy/Stay Long Software Stocks $IGV $MSFT...

Vermilion Research

Enterprise Products Partners L.P.: Overcoming Low Prices & Still Delivering! - Major Drivers

Enterprise Products Partners' results were a major disappointment as it failed to meet the revenue as well as the earnings expectations of Wall...

Baptista Research

Enterprise Product Partners: Does It Have Any Kind Of Competitive Advantage? – Financial Forecasts

Enterprise Products Partners delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus. Enterprise...

Baptista Research

Enterprise Product Partners: Major Drivers

Enterprise Product Partners delivered a mixed set of results in the quarter. Enterprise moved a record 11.2 million barrels of oil equivalent per...

Baptista Research

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