Report
Dave Nicoski ...
  • Ross LaDuke
EUR 43.82 Purchase single report

Vital Signs: Actionable charts

Key Points:

• Gold appears to be developing a potential head-and-shoulders bottom. A break above the $128 level would be very bullish. (ex. GLD and GDX)

• A number of restaurants are bullishly inflecting, trending up and to the right. (ex. JACK, DIN, SHAK, and YUM)

• REIT's continue to be leadership (ex. PSB, HCP, HR, WELL, ARE, ESS, MAA, AMT, CCI, and SBAC)
Underlyings
Alexandria Real Estate Equities Inc.

Alexandria Real Estate Equities is an urban office Real Estate Investment Trust focused on collaborative life science and technology campuses in AAA innovation cluster locations. The company is engaged in the business of providing space for lease to the life science and technology industries. The company has market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland, and Research Triangle Park. The company's tenants include multinational pharmaceutical companies; public and private biotechnology companies; life science product, service, and medical device companies; digital health, and technology companies; and academic and medical research institutions.

Caci International Inc. Cl A

CACI International is a holding company. Through its subsidiaries, the company is engaged in providing information solutions and services. The company's domestic operations provides services and solutions to its domestic customers in the following market areas: business systems; command and control; communications; cyber security; enterprise information technology; health; intelligence services; intelligence systems and support; investigation and litigation support; logistics systems and services; space operations and resiliency; and surveillance and reconnaissance. The company's international operations provide IT services and proprietary data and software products, serving commercial and government customers.

Cboe Global Markets

Cboe Global Markets is an exchange holding company. The company provides trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products, global foreign exchange and multi-asset volatility products based on the VIX Index. The company operates in five segments: Options, U.S. Equities, Futures, European Equities and Global FX. The company also provides trading in products and licenses based on its proprietary indexes and index methodologies, including volatility index products based on various broad-based market indexes, volatility indexes based on ETFs and individual stocks and options strategy benchmarks.

Churchill Downs Inc.

Churchill Downs is a racing, gaming and online entertainment company. The company's segments include: Racing, which includes Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course racetracks; Casinos, which provides casino gaming; TwinSpires, which includes Fair Grounds Account Wagering, Velocity, and Bloodstock Research Information Services; and Other Investments, which include United Tote Company and United Tote Canada that manufactures and operates pari-mutuel wagering systems for racetracks, off-track betting facilities and other pari-mutuel wagering businesses.

Cogent Communications Holdings

Cogent Communications Holdings provides Internet access and Internet Protocol (IP) communications services. The company's network transmits data using IP. The company deliver its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and Asia. The company provides on-net Internet access services through its own facilities, which run from its network to its customers' premises. The company's on-net service consists of Internet access and IP connectivity ranging from 100 Megabits per second to 100 Gigabits per second of bandwidth. The company operates data centers throughout North America and Europe.

Cooper Cos.

Cooper Companies is a global medical device company. The company operates through two business units, CooperVision and CooperSurgical. CooperVision primarily develops, manufactures and markets a range of soft contact lenses for the worldwide vision correction market. CooperVision markets single-use silicone hydrogel spherical, toric and multifocal lenses under its clariti? 1day brand and single-use silicone hydrogel spherical and toric lenses under its MyDay? brand. CooperSurgical primarily develops, manufactures, markets medical devices and procedures solutions, and provides services to improve health care delivery to families.

Crown Castle International Corp.

Crown Castle International is a holding company. Through its subsidiaries, the company owns, operates and leases shared communications infrastructure that is geographically dispersed throughout the U.S., including towers and other structures, such as rooftops (collectively, towers), and fiber primarily supporting small cell networks (small cells) and fiber solutions. The company's towers, fiber and small cells assets are collectively referred to herein as communications infrastructure. The company's core business is providing access, including space or capacity, to its shared communications infrastructure via long-term contracts in various forms, including lease, license, sublease and service agreements.

DENTSPLY SIRONA

DENTSPLY SIRONA is a manufacturer of dental products and technologies. The company's Consumables segment is responsible for the design, manufacture, sales and distribution of the company's dental consumable products which include preventive, restorative, instruments, endodontic, and orthodontic dental products. The company's Technologies and Equipment segment includes responsibility for the design, manufacture, sales and distribution of the company's dental technology and equipment products and healthcare consumable products, including dental implants, laboratory dental products, computer-aided design/computer-aided manufacturing systems, imaging systems, treatment centers as well as consumable medical device products.

Dine Brands Global

Dine Brands Global, owns and franchises the Applebee's Neighborhood Grill & Bar? (Applebee's) concept in the bar and grill segment within the casual dining category of the restaurant industry and the International House of Pancakes? (IHOP) concept in the family dining category of the restaurant industry. Applebee's menu features a selection of grill and bar fare, such as appetizers, bar snacks, burgers, entrees and lighter fare, cocktails, beers and desserts. IHOP restaurants feature table service, food and beverage offerings. Although the restaurants are known for pancakes, omelets and other breakfast specialties, IHOP restaurants also provide a variety of lunch, dinner and snack items.

Dish Network

DISH Network is a holding company. Through its subsidiaries, the company operates two business segments: Pay-TV and Wireless. The company provides pay-TV services under: the DISH? brand, which consists of, among other things, Federal Communications Commission licenses authorizing the company to use direct broadcast satellite and Fixed Satellite Service spectrum, the company's owned and leased satellites, and certain other assets utilized in the company's operations; and the Sling? brand, which consists of, among other things, live, linear streaming over-the-top Internet-based domestic, international and Latino video programming services. In addition, the company invests to acquire certain wireless spectrum licenses and related assets.

Dollar Tree

Dollar Tree is an operator of discount variety stores. The company's stores operate under the names of Dollar Tree, Family Dollar and Dollar Tree Canada. The company's segments are: Dollar Tree, which is the operator of discount variety stores providing merchandise at the fixed price point of $1.00; and Family Dollar, which operates general merchandise discount retail stores. The merchandise mix in the company's Dollar Tree stores consists of consumable merchandise, variety merchandise, and seasonal goods. The merchandise mix in the company's Family Dollar stores consists of consumable merchandise, home products, apparel and accessories merchandise, and seasonal and electronics merchandise.

Essex Property Trust Inc.

Essex Property Trust operates as a self-administered and self-managed real estate investment trust. The company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The company is the sole general partner of the Operating Partnership. The company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of primarily apartment communities, located along the West Coast. The company owns or has an interest in various operating apartment communities, consisting of apartment homes, operating commercial building and active development projects in various stages of development.

Flowers Foods Inc.

Flowers Foods is a producer and marketer of bakery products. The company consists of two business segments: direct-store-delivery (DSD) and warehouse delivery (warehouse). The DSD segment produces breads, buns, rolls, tortillas and snack cakes to retail and foodservice customers. The Warehouse segment produces snack cakes and frozen breads and rolls. The company's Warehouse Segment markets a line of breads and rolls, including the Alpine Valley Bread brand, for retail and foodservice customers. It also produces proprietary breads, buns, and rolls for specific foodservice customers. This segment's snack cakes are sold under the Mrs. Freshley's and store brands.

Global Payments Inc.

Global Payments is a provider of payment technology and software solutions. The company's payment solutions enables its customers to accept card, electronic, check and digital-based payments. The company's offerings include authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, consolidated billing and statements and on-line reporting. Through its wholesale channel, the company provides payment services to merchants through independent sales organizations. The company's credit and debit card transaction processing includes the processing of international card brands, including American Express, JCB, and MasterCard.

HCP
HCP

HCP is a real estate investment trust which invests in real estate serving the healthcare industry. The company acquires, develops, leases, and manages and disposes of healthcare real estate. The company's segments are: senior housing triple-net and senior housing operating portfolio, which include independent living facilities, assisted living facilities, memory care facilities, and continuing care retirement communities; life science, which contains laboratory and office space for biotechnology, medical device and pharmaceutical companies, scientific research institutions, government agencies and other organizations; and medical office, which contains physicians' offices and examination rooms.

Healthcare Realty Trust Inc.

Healthcare Realty Trust is a self-managed and self-administered real estate investment trust that owns, leases, manages, acquires, finances, develops and redevelops income-producing real estate properties associated primarily with the delivery of outpatient healthcare services. The company had investments in real estate properties, construction in progress, land held for development and corporate property. The company also provided property management services for healthcare-related properties nationwide.

Jack in the Box Inc.

Jack in the Box operates and franchises Jack in the Box? quick-service restaurants (QSRs). Jack in the Box restaurants provide a selection of products including burgers like its Jumbo Jack? and product lines such as Buttery Jack? burgers and its Brunchfast? menu. The company also provides breakfast sandwiches with cracked eggs, tacos and curly fries, along with sandwiches, salads and real ice cream shakes, among other items. The company allows its guests to customize their meals and order any product, including breakfast items any time of the day (or night). The company operates and franchises Jack in the Box QSRs, primarily in the western and southern U.S., including in Guam.

MarketAxess Holdings Inc.

MarketAxess Holdings operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its patented technology. Through its Open Trading? protocols, the company executes trades in certain bond between and among institutional investor and broker-dealer clients on a matched principal basis. The company also provides trading-related products and services, including: market data to assist clients with trading decisions; connectivity solutions that facilitate straight-through processing; technology services to improve trading environments; and execution services for exchange-traded fund managers and other clients.

Medicines Co.

Medicines is a biopharmaceutical company. The company is focused on inclisiran, an investigational agent which is a lipid-lowering drug, to reduce low-density lipoprotein-cholesterol, which is referred to as bad cholesterol, in patients with atherosclerotic cardiovascular disease or cardiovascular risk-equivalents. The company's products include: Angiomax, which - Angiomax is an intravenous direct thrombin inhibitor that is a peptide compound; and Ionsys (fentanyl iontophoretic transdermal system), which is a compact, needle-free patient-controlled system for the short term management of acute postoperative pain for adults requiring opioid analgesia in the hospital.

Medidata Solutions

Medidata Solutions provides cloud-based solutions for clinical research in life sciences. The company's cloud-based platform of solutions and data analytics enables improvement throughout clinical development programs. The company provides its technology on an enterprise or multi-study basis. The company's services include: implementation services, which provide implementation of the Medidata Clinical Cloud with configuration and implementation support to its customers; sponsor enablement, which enables customers to design, configure, implement, and manage their own studies; and strategic consulting, which supports a re-engineered development process that require its customers to implement internal changes.

Mid-America Apartment Communities Inc.

Mid-America Apartment Communities is a self-administered and self-managed real estate investment trust. The company owns, operates, acquires and develops apartment communities located in the Southeast, Southwest and Mid-Atlantic regions of the U.S. The company's business is conducted principally through Mid-America Apartments, L.P., in which the company is the sole general partner.

Molina Healthcare Inc.

Molina Healthcare provides managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces. The company manages its operations through three reportable segments: Health Plans, which consists of the company's health plans; Molina Medicaid Solutions, which provides support to state government agencies in the administration of their Medicaid programs including business processing, information technology development, and administrative services; and Others, which includes primarily the company's Pathways behavioral health and social services provider.

PS Business Parks

PS Business Parks is a real estate investment trust that owns, operates, acquires and develops commercial properties, primarily multi-tenant flex, office and industrial space. The company is in the commercial property business, with business parks consisting of multi-tenant flex, industrial and office space. The warehouse component of the flex space has a number of uses including light manufacturing and assembly, storage and warehousing, showroom, laboratory, distribution and research and development activities.

RenaissanceRe Holdings Ltd.

RenaissanceRe Holdings is a holding company. Together with its subsidiaries, the company is a global provider of reinsurance and insurance. The company's segments are: Property, which includes its catastrophe class of business, comprising excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, and its other property class of business, comprising proportional reinsurance, property per risk, property (re)insurance, binding facilities and regional U.S. multi-line reinsurance; and Casualty and Specialty, in which the company provides its casualty and specialty reinsurance products and excess of loss coverage.

RLI Corp.

RLI is an insurance holding company. Through its subsidiaries, the company is engaged in underwriting selected property and casualty insurance. The company has three segments: casualty, which includes commerical and personal umbrella, general liability, professional Services, commercial transportation, small commercial, executive products, medical professional liability, and other casualty; property, which includes commercial property, marine, specialty personal and other property coverages; and surety; which includes miscellaneous surety coverage, bonds for small to medium-sized contractors, commercial surety bonds and energy surety coverages.

Royal Gold Inc.

Royal Gold, together with its subsidiaries, is engaged in the business of acquiring and managing precious metal streams, royalties, and similar interests. The company manages its business under two segments: the acquisition and management of stream interests; and the acquisition and management of royalty interests. The company's principal producing stream and royalty interests on properties outside of the U.S. are located in Canada, Chile, the Dominican Republic, Ghana and Mexico. The company also has stream and royalty interests in mines and projects in other countries, including Argentina, Australia, Bolivia, Brazil, Burkina Faso, Guatemala, Honduras, Macedonia, Nicaragua, Peru, Russia, Spain and Tunisia.

SBA Communications

SBA Communications, through its subsidiaries, owns and operates wireless communications infrastructure, including tower structures, rooftops, and structures that support antennas used for wireless communications. The company's services include: network pre-design; site audits; identification of potential locations for towers and equipment on existing infrastructure; support in leasing of the location; obtaining zoning approvals and permits; tower and related site construction; antenna installation; and radio equipment installation, commissioning, and maintenance. The company provides site development services at its towers and at towers owned by others on a local basis, through market and regional offices.

Selective Insurance Group Inc.

Selective Insurance Group is a holding company. Through its subsidiaries, the company operates in four segments: Standard Commercial Lines, which comprises insurance products and services provided in the standard marketplace to commercial enterprises; Standard Personal Lines, which comprises insurance products and services, including flood insurance coverage, provided primarily to individuals acquiring coverage in the standard marketplace; Excess and Surplus Lines, which comprises insurance products and services provided to customers who have not obtained coverage in the standard marketplace; and Investments, which invests the premiums collected by the company's insurance operations.

Shake Shack

Shake Shack is a roadside burger stand serving an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer, wine and others. The company operates and licenses Shake Shack restaurants. The company's menu include: Burgers & Chicken, which includes ShackBurger?, SmokeShack?, 'Shroom Burger? (Co.'s vegetarian burger), Shack Stack? and Hamburger, as well as Chick'n Shack?; Crinkle Cut Fries, which are made from Yukon potatoes; Hot Dogs, which include beef hot dogs and chicken dogs; Frozen Custard, which is made from vanilla and chocolate recipes and milk; Beer, Wine and Beverages, which provide local craft beers; and Dogs Are Welcome Too, which provides dog biscuits.

SPDR Gold Trust

Top Image Systems Ltd.

Top Image Systemis engaged in the development and marketing of a variety of information recognition systems and technologies and automated document capture solutions for the efficient flow of information within and between organizations. Co.'s software minimizes the need for manual data entry by automatically capturing, reading, understanding, identifying, processing, classifying and routing the information contained in documents, increasing data capture accuracy and the rate of information processing. Co. derives its revenue from two sources: (i) license revenue and (ii) services revenue which include Software as a Services ("SaaS"), professional services, maintenance and technical support.

TTEC Holdings

TTEC Holdings is a provider of customer engagement services and technologies. The company has four segments including Customer Strategy Services, which provides services in customer experience strategy and operations, insights, system and operational process optimization, and culture development; Customer Technology Services, which includes system design consulting, customer experience technology product, implementation and integration consulting services, and management of clients' cloud and on-premise solutions; Customer Management Services, which includes customer experience delivery solutions; and Customer Growth Services, which provides technology-enabled sales and marketing solutions.

VanEck Vectors Gold Miners ETF

Vonage Holdings

Vonage Holdings is a provider of cloud communications services for businesses and consumers. The company also provides residential communication solutions. For its Business customers, the company provide cloud-based Unified Communications as a Service solutions, comprised of integrated voice, text, video, data, collaboration, and mobile applications over its Session Initiation Protocol based Voice over Internet Protocol network. The company also provides Communications Platform as a Service solutions, which embed communications into apps, websites and business processes. For its Consumer customers, the company provides voice and messaging services and other features on a variety of devices.

Welltower Inc.

Welltower is a real estate investment trust. The company has three segments: Triple-Net, which includes independent living and independent supportive living (Canada), assisted living, continuing care retirement communities, Alzheimer's/dementia care and care homes with or without nursing (U.K.); Seniors Housing Operating, which includes independent living and independent supportive living, continuing care retirement communities, Alzheimer's/dementia care and include care homes with or without nursing (U.K.); and Outpatient Medical, which consists of health care related buildings that include physician offices, ambulatory surgery centers, diagnostic facilities, outpatient services and/or labs.

Yum! Brands Inc.

Yum! Brands franchises or operates a system of quick service restaurants through its KFC, Pizza Hut and Taco Bell brands. The company's operating segments consist of the KFC Division, the Pizza Hut Division and the Taco Bell Division. KFC restaurants provides fried and non-fried chicken products such as sandwiches, chicken strips, chicken-on-the-bone and other chicken products marketed under a variety of names. Pizza Hut is engaged in the sale of ready-to-eat pizza products. Pizza Hut operates in the delivery, carryout and casual dining segments. Taco Bell is engaged in Mexican-style food products, including various types of tacos, burritos, quesadillas, salads, nachos and other related items.

Provider
Vermilion Research
Vermilion Research

Vermilion Research delivers timely, actionable, and unique research inputs to professional investors. Our research strategists highlight securities which we believe are at major inflection points, based on our various proprietary technical indicators, and offer asymmetric risk/return profiles. We believe our research methodology, which is not limited by industry sector or market capitalization, enables us to deliver superior investment recommendations.

Our process begins by organizing all actively traded stocks into coherent sectors, then into logical industry groups. We then apply our proprietary relative strength tools to identify developing price trends. Once attractive trends are identified within a selected sectors or groups, we screen for individual stocks which we believe offer the best risk/reward profile. Vermilion offers U.S. and global equity market research products. Vermilion’s research team, which has received numerous awards and accolades, has a combined 70 year of experience in the analysis of investment securities.

Analysts
Dave Nicoski

Ross LaDuke

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