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 Macro Vision report, we provide an appraisal and recommendations for each of our 12 Sectors, with extra attention devoted to opportunities within the following areas: <ul><li>Energy:Market Weight.  Energy has shown a significant improvement over the last several months. A majority of the E&amp;P’s are breaking topside of their respective 200-day moving averages. A number of offshore drillers, which have lagged significantly over the last several years are reversing long-term downtrends and breaking above their respective 200-day moving averages.  </li></ul><ul><li>Financials: Overweight. Financials continue to demonstrate long-term leadership characteristics, with many breaking out to new highs or break above major bases.  </li></ul><ul><li>Technology: Overweight. Technology continues to reign in terms of leadership. The bases in this Sector are enormous, dating back to the 2000 bubble, and we believe that the upside potential after many years of consolidation is significant.  </li></ul><ul><li>Manufacturing: Overweight.  The main stalwart of strength had been within the confines of the aerospace industry, however automobile, truck, and construction equipment have garnered much of the attention over the last few months. We believe this is a positive sign for the economy.</li></ul>

In our November Macro Vision report, we provide an appraisal and recommendations for each of our 12 Sectors, with extra attention devoted to opportunities within the following areas: Energy:Market Weight.  Energy has shown a significant improvement over the last several months. A majority of the E&amp;P’s are breaking topside of their respective 200-day moving averages. A number of offshore drillers, which have lagged significantly over the last several years are reversing long-term downtrends and breaking above their respective 200-day moving averages.  Financials: Overweight. Financials continue to demonstrate long-term leadership characteristics, with many breaking out to new highs or break above major bases.  Technology: Overweight. Technology continues to reign in terms of leadership. The bases in this Sector are enormous, dating back to the 2000 bubble, and we believe that the upside potential after many years of consolidation is significant.  Manufacturing: Overweight.  The main stalwart of strength had been within the confines of the aerospace industry, however automobile, truck, and construction equipment have garnered much of the attention over the last few months. We believe this is a positive sign for the economy.

U.S. Equity Strategy & Individual Sector Commentaries

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

Value-focused bottom-up Asian equity research

NVB Asia Pte Ltd

Equity Bottom-Up

Micro Mechanics (Holdings) / Equity Bottom-Up

<ul><li>Singapore is home to many wonderful small- and medium size companies. Discover Singapore series will highlight some of these</li><li><a href="https://www.smartkarma.com/entities/19384" target="_blank" data-smartkarma-citation="entities:19384:1">Micro Mechanics (Holdings) Ltd (MMH SP)</a> is supplier of tools and parts to semiconductor industry. MMH track record of revenues, profit growth and margins is impressive</li><li>21M SGD in net cash (15.6% of market valuation); MMH trades at 8x P/E multiple (ex-cash) and current dividend yield 6.25%</li></ul>

Singapore is home to many wonderful small- and medium size companies. Discover Singapore series will highlight some of theseMicro Mechanics (Holdings) Ltd (MMH SP) is supplier of tools and parts to semiconductor industry. MMH track record of revenues, profit growth and margins is impressive21M SGD in net cash (15.6% of market valuation); MMH trades at 8x P/E multiple (ex-cash) and current dividend yield 6.25%

Discover Singapore: Micro Mechanics (MMH SP)

United States

Kulicke and Soffa Industries, Inc. designs, manufactures, and markets capital equipment, related spare parts, and packaging materials used to assemble semiconductor devices. The Company also services, maintains, repairs, and upgrades assembly equipment. Kulicke's equipment is used in wire bonding systems, wafer dicing saws, and die bonders.

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Kulicke And Soffa Industries, (KLIC US)

U.S. Equity Strategy & Individual Sector Commentaries

In our November Macro Vision report, we provide an appraisal and recommendations for each of our 12 Sectors, with extra attention devoted...

Vermilion Research

Discover Singapore: Micro Mechanics (MMH SP)

Singapore is home to many wonderful small- and medium size companies. Discover Singapore series will highlight some of these Micro Mechanics...

Nicolas Van Broekhoven

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52-week Range

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