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 key "lines in the sand" were tested last week, including 4257 on the S&amp;P 500, $334 on QQQ, 33,250 on the DJIA, and $102.50 on the S&amp;P 600 (IJR).</li>
<li>After a brief dip below these levels, buyers immediately stepped up and reclaimed these supports. It was a clear win for the bulls (for now).</li>
<li>Attractive and actionable Groups highlighted include fertilizer (ag chemicals), aerospace/defense, and shipping.</li>
</ul>


Our key "lines in the sand" were tested last week, including 4257 on the S&amp;P 500, $334 on QQQ, 33,250 on the DJIA, and $102.50 on the S&amp;P 600 (IJR).
After a brief dip below these levels, buyers immediately stepped up and reclaimed these supports. It was a clear win for the bulls (for now).
Attractive and actionable Groups highlighted include fertilizer (ag chemicals), aerospace/defense, and shipping.


Volatility & Consolidation Continues; Buying Ag Chemicals, Aerospace/Defense, and Shipping Stocks

Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

The interest shown by the richest and some of the most influential investors and the success of public-private partnerships in space programs are a reflection of an industry poised for strong growth over the next several years.  The space-tech landscape covers various technologies, but in this note, we focus only on the cosmonautic vehicle and propulsion systems. 
The current top players in propulsion are Ariane Group (<a href="https://www.smartkarma.com/entities/airbus-group-se" target="_blank" data-smartkarma-citation="entities:21380:1" rel="noopener">Airbus Group SE (AIR FP)</a> &amp; <a href="https://www.smartkarma.com/entities/safran-sa" target="_blank" data-smartkarma-citation="entities:21540:1" rel="noopener">Safran SA (SAF FP)</a> joint venture),<a href="https://www.smartkarma.com/entities/aerojet-rocketdyne-holdings" target="_blank" data-smartkarma-citation="entities:19120:1" rel="noopener">Aerojet Rocketdyne (AJRD US)</a>, <a href="https://www.smartkarma.com/entities/boeing-co" target="_blank" data-smartkarma-citation="entities:11957:1" rel="noopener">Boeing Co (BA US)</a>, <a href="https://www.smartkarma.com/entities/raytheon-company" target="_blank" data-smartkarma-citation="entities:6453:1" rel="noopener">Raytheon Company (RTN US)</a>, &amp; <a href="https://www.smartkarma.com/entities/united-technologies-corp" target="_blank" data-smartkarma-citation="entities:12750:1" rel="noopener">United Technologies (UTX US)</a>. The current top players in space vehicles and equipment are <a href="https://www.smartkarma.com/entities/boeing-co" target="_blank" data-smartkarma-citation="entities:11957:1" rel="noopener">Boeing Co (BA US)</a>, <a href="https://www.smartkarma.com/entities/maxar-technologies-inc" target="_blank" data-smartkarma-citation="entities:28796:1" rel="noopener">Maxar Technologies Inc (MAXR US)</a>, <a href="https://www.smartkarma.com/entities/airbus-group-se" target="_blank" data-smartkarma-citation="entities:21380:1" rel="noopener">Airbus Group SE (AIR FP)</a>, <a href="https://www.smartkarma.com/entities/thales-sa" target="_blank" data-smartkarma-citation="entities:21483:1" rel="noopener">Thales SA (HO FP)</a>, <a href="https://www.smartkarma.com/entities/alphabet-inc-cl-c" target="_blank" data-smartkarma-citation="entities:11369:1" rel="noopener">Alphabet Inc Cl C (GOOG US)</a> &amp; <a href="https://www.smartkarma.com/entities/lockheed-martin-corp" target="_blank" data-smartkarma-citation="entities:20372:1" rel="noopener">Lockheed Martin (LMT US)</a>. 
The two new preeminent private players SpaceX and Blue Origin don't feature in the top five players listed above, we discuss the reasons later in the report. 
Unlike e-commerce or software-driven startups, space vehicles and propulsion are relatively capital intensive. So unless the start-ups are led by founders with deep pockets (like Blue Origin) or founders with the ability to raise innovation capital (like SpaceX) it is best to stick to the established names and hope they evolve their business model to adjust for the democratization and marketization of the space industry. That said two private names that screen well are Redwire (vehicles) and Mountain Aerospace Research (propulsion).<a href="https://www.smartkarma.com/entities/avio-spa" target="_blank" data-smartkarma-citation="entities:34833:1" rel="noopener">Avio SPA (AVIO IM)</a>is a small-cap listed company in the top ten for propulsion

The interest shown by the richest and some of the most influential investors and the success of public-private partnerships in space programs are a reflection of an industry poised for strong growth over the next several years.  The space-tech landscape covers various technologies, but in this note, we focus only on the cosmonautic vehicle and propulsion systems. 
The current top players in propulsion are Ariane Group (Airbus Group SE (AIR FP) &amp; Safran SA (SAF FP) joint venture),Aerojet Rocketdyne (AJRD US), Boeing Co (BA US), Raytheon Company (RTN US), &amp; United Technologies (UTX US). The current top players in space vehicles and equipment are Boeing Co (BA US), Maxar Technologies Inc (MAXR US), Airbus Group SE (AIR FP), Thales SA (HO FP), Alphabet Inc Cl C (GOOG US) &amp; Lockheed Martin (LMT US). 
The two new preeminent private players SpaceX and Blue Origin don't feature in the top five players listed above, we discuss the reasons later in the report. 
Unlike e-commerce or software-driven startups, space vehicles and propulsion are relatively capital intensive. So unless the start-ups are led by founders with deep pockets (like Blue Origin) or founders with the ability to raise innovation capital (like SpaceX) it is best to stick to the established names and hope they evolve their business model to adjust for the democratization and marketization of the space industry. That said two private names that screen well are Redwire (vehicles) and Mountain Aerospace Research (propulsion).Avio SPA (AVIO IM)is a small-cap listed company in the top ten for propulsion

Ideas from Data Mining Technical Publications: Space Vehicles and Propulsion Systems

Latest News from the World’s Leading Innovators

Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

<h2>Headline Development</h2>Hertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go to Uber (UBER) drivers.  On top of this, Hertz will also invest significantly in EV charging infrastructure across its global operations.

Headline DevelopmentHertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go to Uber (UBER) drivers.  On top of this, Hertz will also invest significantly in EV charging infrastructure across its global operations.

Headline Developments On the back of the Epic v Apple case, documents were released highlighting that Google (GOOG) had considered buying Epic outright.  During the case, Epic Games outlined Google’s plans to develop “a series of internal projects to address the ‘contagion’ it perceived from efforts by Epic and others to offer consumers and developers competitive alternatives and has even contemplated buying some or all of Epic to squelch this threat”.

Headline Developments On the back of the Epic v Apple case, documents were released highlighting that Google (GOOG) had considered buying Epic outright.  During the case, Epic Games outlined Google’s plans to develop “a series of internal projects to address the ‘contagion’ it perceived from efforts by Epic and others to offer consumers and developers competitive alternatives and has even contemplated buying some or all of Epic to squelch this threat”.

Bond market data and technology, BondEvalue

BondEvalue

Bond market data and technology

BondEvalue is a Singapore-based Fintech that specializes in bond market data and technology. The company's information services business offers bond market data on hard-currency corporate & sovereign bonds across Asia, Middle East, Europe and the Americas. The data, which includes bond prices, yields, news and analytics, is offered to end investors via interactive Mobile and Web Apps. Investors can sign up for a free trial of the service either via the company's website (https://bondevalue.com) or by downloading the BondEvalue Mobile App (http://onelink.to/wej7jq). BondEvalue is also developing an electronic bond exchange, BondbloX in Singapore that allows investors to trade bonds electronically in smaller sizes (US$1,000 or equivalent). For more information, visit https://www.bondblox.com/

Bond Market Data and Technology

Credit

US markets hovered around the highs ahead of the Big Tech earrings. S&amp;P was up 0.2% and Nasdaq nudged higher 0.03% created new closing records. Energy up 2.5% and Materials, Consumer Discretionary and Communication Services up ~0.7% pulled the markets higher. Corporate earnings continued as Tesla beat expectations (detailed below) while Lockheed Martin delivered disappointing results. All eyes are now set on the earnings of Apple, Microsoft, Google and Starbucks . Meanwhile, a high level meeting between US and China ended without any material output amid escalated tensions. US 10Y Treasury yields rose 2bp to 1.28%. European stocks were mixed – CAC was up 0.2%, FTSE was flat and DAX was down 0.3%. US IG CDS spreads tightened 0.2bp and HY widened 1.8bp. EU Main and Crossover spreads widened 0.4bp and 3bp respectively. Brazil’s Bovespa was up 0.8%. Saudi TASI and UAE’s DAX were up 0.2% and 0.9% respectively. Asia Pacific stocks edged higher as mainland China stocks gained – the Nikkei, Shanghai and Singapore’s STI were up 0.3-0.5% while HSI was down ~0.7%. Asia ex-Japan CDS spreads were 1.6bp wider.

AVIC Launches € Bond; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers

United States

Lockheed Martin Corporation is a global security company that primarily researches, designs, develops, manufactures, and integrates advanced technology products and services.  The Company's businesses span space, telecommunications, electronics, information and services, aeronautics, energy, and systems integration.  Lockheed Martin operates worldwide.

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Lockheed Martin (LMT US)

Volatility & Consolidation Continues; Buying Ag Chemicals, Aerospace/Defense, and Shipping Stocks

Moving forward we continue to expect more volatility and consolidation between 4257 and 4590-4595 on the S&P 500, and between $334 and $367 on the...

Vermilion Research

Ideas from Data Mining Technical Publications: Space Vehicles and Propulsion Systems

The space economy is seeing much more private sector participation. This sets up the sector for strong growth. In this report, we screen for...

Pyari Menon

Weekly Innovation Review (WIRE) #55

Hertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go...

Granite Bay Capital

Weekly Innovation Review (WIRE) #44

Headline Developments On the back of the Epic v Apple case, documents were released highlighting that Google (GOOG) had considered buying Epic...

Granite Bay Capital

AVIC Launches € Bond; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers

US markets hovered around the highs ahead of the Big Tech earrings. S&P was up 0.2% and Nasdaq nudged higher 0.03% created new closing records....

BondEvalue

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