Fundamental Short Selling Research

Eric Fernandez, CFA

TwoRiversAnalytics

Equity Bottom-Up

<ul>
<li>This model finds companies facing recent sharp cuts in estimates. These shorts can have very disparate characteristics.</li>
<li>The key judgement involves whether the negative revisions are temporary or if they are indications of ongoing weakness in the business. </li>
<li>Breaking Estimates stocks often continue to decline after the cuts.  This week we flag: Novavax, Micron, Generac, FormFactor</li>
</ul>


This model finds companies facing recent sharp cuts in estimates. These shorts can have very disparate characteristics.
The key judgement involves whether the negative revisions are temporary or if they are indications of ongoing weakness in the business. 
Breaking Estimates stocks often continue to decline after the cuts.  This week we flag: Novavax, Micron, Generac, FormFactor


Breaking Estimate Short Candidates: Novavax, Micron, Generac, FormFactor

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

In our November Strategy book we summarize the basis for our bullish outlook, discuss the deservedly hot topic of value vs. growth. and highlight actionable opportunities within our Manufacturing, Transportation, Materials, Technology, &amp; Consumer Discretionary Sectors.

In our November Strategy book we summarize the basis for our bullish outlook, discuss the deservedly hot topic of value vs. growth. and highlight actionable opportunities within our Manufacturing, Transportation, Materials, Technology, &amp; Consumer Discretionary Sectors.

Recent market developments are encouraging and have improved the overall health of the market, which has also incrementally improved our outlook. At the same time, there is still more to be desired before we can have confidence in the prospect of a broad market rally. In today’s report we highlight attractive Groups and stocks within Technology and Transportation: Semiconductor Equip., Large/Mid-Cap and Small-Cap, Electronic Equipment Components, and Trucking Large-Cap.

Recent market developments are encouraging and have improved the overall health of the market, which has also incrementally improved our outlook. At the same time, there is still more to be desired before we can have confidence in the prospect of a broad market rally. In today’s report we highlight attractive Groups and stocks within Technology and Transportation: Semiconductor Equip., Large/Mid-Cap and Small-Cap, Electronic Equipment Components, and Trucking Large-Cap.

U.S. Equity Strategy: Markets on the Mend, Still Not at Full Health

Technology Select Sector SPDR / Technical Analysis

The S&amp;P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement.  Technology in particular continues to top our Sector RSR rankings, fueled by strengthening price and RS action for semiconductors, semi-suppliers, and numerous Software groups. Last week we upgraded our weighting for Technology and its strength continues to broaden out. In this week's report we highlight a number of actionable Technology stocks across our various Groups.

The S&amp;P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement.  Technology in particular continues to top our Sector RSR rankings, fueled by strengthening price and RS action for semiconductors, semi-suppliers, and numerous Software groups. Last week we upgraded our weighting for Technology and its strength continues to broaden out. In this week's report we highlight a number of actionable Technology stocks across our various Groups.

U.S. Tech Stocks Are Leading Market Higher.

Key Points:<ul>
<li>Consumer Discretionary retailers and restaurants continue to demonstrate leadership characteristics. Many are breaking to new price and RS highs.</li>
<li>A number of small-cap E&amp;P’s have developed bullish bases and continue to have constructive RS trends.</li>
<li>A few semi supplier stocks are breaking price and RS downtrends.</li>
</ul>

Key Points:
Consumer Discretionary retailers and restaurants continue to demonstrate leadership characteristics. Many are breaking to new price and RS highs.
A number of small-cap E&amp;P’s have developed bullish bases and continue to have constructive RS trends.
A few semi supplier stocks are breaking price and RS downtrends.


United States

FormFactor Inc, designs, develops, and manufactures advanced semiconductor wafer probe cards.  The Company's products are based on MicroSpring interconnect technology, which includes resilient spring-like contacts that are manufactured using micro-machining and scalable semiconductor-like wafer fabrication processes.

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Formfactor Inc (FORM US)

Breaking Estimate Short Candidates: Novavax, Micron, Generac, FormFactor

This model uncovers companies facing recent declines in estimates. This week we flag: Novavax, Micron, Generac, & FormFactor

Eric Fernandez, CFA

U.S. Equity Strategy: Remain Bullish

In our November Strategy book we summarize the basis for our bullish outlook, discuss the deservedly hot topic of value vs. growth. and highlight...

Vermilion Research

U.S. Equity Strategy: Markets on the Mend, Still Not at Full Health

Recent market developments are encouraging and have improved the overall health of the market, which has also incrementally improved our outlook....

Vermilion Research

U.S. Tech Stocks Are Leading Market Higher.

The S&P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement. Technology...

Vermilion Research

Vital Signs: Actionable U.S. Stocks

Key Points: Consumer Discretionary retailers and restaurants continue to demonstrate leadership characteristics. Many are breaking to new price and...

Vermilion Research

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