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

Breadth is waning – there’s no question about that. Yet selling appears to be discriminate, so far, as if there’s a reason behind which stocks get hit, not the indiscriminate “sell-button.” But even with waning breadth, the weight-of-the-evidence still supports further upside. We believe this dip in breadth is a favorable sign for stock-pickers, creating an environment where selectivity can aid in outperformance. This week we provide an update to our investment thesis and highlight attractive opportunities within the gaming stocks, and a wide range of other cyclical companies.

Breadth is waning – there’s no question about that. Yet selling appears to be discriminate, so far, as if there’s a reason behind which stocks get hit, not the indiscriminate “sell-button.” But even with waning breadth, the weight-of-the-evidence still supports further upside. We believe this dip in breadth is a favorable sign for stock-pickers, creating an environment where selectivity can aid in outperformance. This week we provide an update to our investment thesis and highlight attractive opportunities within the gaming stocks, and a wide range of other cyclical companies.

United States

Penn National Gaming, Inc. owns and operates Charles Town Races in West Virginia which features slot machines, casinos in Mississippi, and a riverboat gaming facility in Louisiana.  The Company also owns racetracks and off-track wagering facilities in Pennsylvania, as well as manages a gaming facility in the Province of Ontario, Canada.

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Penn National Gaming (PENN 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

U.S. Equity Strategy Weekly

Breadth is waning – there’s no question about that. Yet selling appears to be discriminate, so far, as if there’s a reason behind which stocks get...

Vermilion Research

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52-week Range

Market Cap (USDm)

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