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

This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same time, small-caps continue to be one area of the market that gives us some reason for pause as neither the Russell 2000 or S&amp;P Small Cap 600 indexes have been able to make bullish price or RS inflections. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Financials: Large- and Small-Cap Casinos &amp; Gaming , Banks, Super-Regional, and Asset Management &amp; Custody Banks, Large-Cap.

This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same time, small-caps continue to be one area of the market that gives us some reason for pause as neither the Russell 2000 or S&amp;P Small Cap 600 indexes have been able to make bullish price or RS inflections. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Financials: Large- and Small-Cap Casinos &amp; Gaming , Banks, Super-Regional, and Asset Management &amp; Custody Banks, Large-Cap.

U.S. Equity Strategy: Waiting on Small-Caps

The primary trend in U.S. equity markets remains bullish, and the usual suspects continue to lead: growth (Tech and FANG), homebuilders, industrials, etc.  Yet unusually bullish price patterns continue to develop in long-term laggards like energy (esp. E&amp;Ps), retail (XRT), and engineering &amp; construction (JEC).  We view this stabilization, or participation, in weak segments as a boost to the market’s breadth, a point of contention in recent months for some, who have pointed out that fewer stocks are trading above their 200-day moving averages.  Attractive entry points are also visible in many cyclical Groups, especially Casinos and Investment Banks.  In today’s report we highlight actionable charts in both Groups... see pages 8-24]

The primary trend in U.S. equity markets remains bullish, and the usual suspects continue to lead: growth (Tech and FANG), homebuilders, industrials, etc.  Yet unusually bullish price patterns continue to develop in long-term laggards like energy (esp. E&amp;Ps), retail (XRT), and engineering &amp; construction (JEC).  We view this stabilization, or participation, in weak segments as a boost to the market’s breadth, a point of contention in recent months for some, who have pointed out that fewer stocks are trading above their 200-day moving averages.  Attractive entry points are also visible in many cyclical Groups, especially Casinos and Investment Banks.  In today’s report we highlight actionable charts in both Groups... see pages 8-24]

U.S. Equity Weekly: Actionable Ideas in Casinos, Investment Banks

Global Gaming and Casinos Industry Specialist, Casino Business Review LLC

Howard J Klein

Global Gaming and Casinos Industry Specialist

Equity Bottom-Up

<ul>
<li>  Investors in this expanding sector are deluged with me-too analytics that can often inhibit, rather than illuminate the road to smart price discovery driven by under the radar management moves.</li>
<li>Casino stocks have their temperatures taken like flu patients every time news breaks whether it is a true catalyst or simply a vapid space filler for media outlets.</li>
<li>The nature of the symbiotic relationship between standard buy and sell-side analysts and managements unavoidably is built off a process that…</li>
</ul>


  Investors in this expanding sector are deluged with me-too analytics that can often inhibit, rather than illuminate the road to smart price discovery driven by under the radar management moves.
Casino stocks have their temperatures taken like flu patients every time news breaks whether it is a true catalyst or simply a vapid space filler for media outlets.
The nature of the symbiotic relationship between standard buy and sell-side analysts and managements unavoidably is built off a process that…


How Independent Research Can Add Depth to Valuations in High Visibility Sectors like Casinos

Melco Resorts & Entertainment / Equity Bottom-Up

<ul>
<li>The son of legendary Macau gaming entrepreneur Stanley Ho builds his casino empire judiciously: At age 40 he has plenty of runway left to conquer in Asia's second wave of gaming expansion.</li>
<li>Astute capital allocator, deeply rooted in the fabric of mainland China's business and civic/charity establishment, Ho's interests demonstrate a smart long term strategy for Melco Resorts &amp; Entertainment.</li>
<li>As Japan IR enabling legislation moves through the process, Ho has targeted Osaka. Assuming the final…</li>
</ul>


The son of legendary Macau gaming entrepreneur Stanley Ho builds his casino empire judiciously: At age 40 he has plenty of runway left to conquer in Asia's second wave of gaming expansion.
Astute capital allocator, deeply rooted in the fabric of mainland China's business and civic/charity establishment, Ho's interests demonstrate a smart long term strategy for Melco Resorts &amp; Entertainment.
As Japan IR enabling legislation moves through the process, Ho has targeted Osaka. Assuming the final…


Lawrence Ho of Melco Resorts: Why You Might Want to Be Partners with Him Now

United States

Monarch Casino & Resort, Inc., through its wholly owned subsidiary, owns and operates the tropically-themed Atlantis Casino Resort in Reno, Nevada.  The resort features a casino, a hotel and motor lounge, restaurants, bars, a nightclub, a swimming pool and health club, a gift shop, a family entertainment center, banquet and meeting space, and surface parking spaces.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Monarch Casino & Resort (MCRI US)

U.S. Equity Strategy: Waiting on Small-Caps

This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same...

Vermilion Research

U.S. Equity Weekly: Actionable Ideas in Casinos, Investment Banks

The primary trend in U.S. equity markets remains bullish, and the usual suspects continue to lead: growth (Tech and FANG), homebuilders,...

Vermilion Research

How Independent Research Can Add Depth to Valuations in High Visibility Sectors like Casinos

Investors in this expanding sector are deluged with me-too analytics that can often inhibit, rather than illuminate the road to smart price...

Howard J Klein

Lawrence Ho of Melco Resorts: Why You Might Want to Be Partners with Him Now

The son of legendary Macau gaming entrepreneur Stanley Ho builds his casino empire judiciously: At age 40 he has plenty of runway left to conquer...

Howard J Klein

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)