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I’m starting this thread where I can jot down some thoughts on sector action. I will be focusing on this purely from a TA perspective. The thoughts here are genuine and do not represent info from the gurus. The focus will be made on long term and short-term bases. My analysis will be wrong on several occasions and this is a given as I’m just not that good. Anyway I think it will be a nice log that I can refer back to.
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WHat are your thoughts on commodities?
IMO that gold is about to either break out or drop dramatically, waiting on the sidleines till it stays above 60 -
My first sector of interest is Telecom Domestic. I also added volume bars to this chart for those of you who like looking at volume. Here is a Macro look into the sector. First you’ll notice this guy has been basing out or running sideways for over 4 years. It is currently making multi year highs. I’m longer term bull in this sector right now.
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Metals and Mining:
I’m longer term Bear in this sector on a macro basis as per monthly chart. I’m bull here on a micro level and think short-term profits might be made here.
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I’m short-term bull in the Oil & Gas Refining group right now. I still would like to see a little upward acceleration in the group. However it is trying to recover off the lows.
Energy does have some R to work through and I thus far like the fact it has worked itself past the inflection point. I would also like to see some acceleration to the upside here.
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Runner great thread hope you stay with It. Wish I had the computer savy to do the things so many of you can do. If I did would start a contest to see who could reach $100,000,000 first. starting with $5000 and either by compounding a certain percentage or the $5000.However I have no clue on how to keep score or enter It as Rob for our POTW contest
Ray LongComment
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THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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Great thread idea. One good thing about ETFs, you don't check them in the morning and find they've gapped up or down against you very often. I think ETFs are the way to go.Comment
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Ray,Originally posted by RL View PostRunner great thread hope you stay with It. Wish I had the computer savy to do the things so many of you can do. If I did would start a contest to see who could reach $100,000,000 first. starting with $5000 and either by compounding a certain percentage or the $5000.However I have no clue on how to keep score or enter It as Rob for our POTW contest
Did you see the guy on the news who started with a paper clip on ebay and ended up with a house?
-------------billyjoeComment
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Ya I saw that Billy thought I might start with a staple watca think
Ray LongComment
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Ray,
I think a paper clip is one trade better than a staple, but that's just my opinion. By the way, will your staple fit a tot2000 stapler? If so I might be able to use it.
-----------billyjoeComment
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Runner,
In doing TA on sectors do you look at the chart exactly as if it were the chart of a stock and interpret it the same way? What is the best time period for basing a sector chart? Thanks
---------billyjoeComment
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Billyjoe, I do look at sector charts the same as stocks. I like looking into longer term charts first. This mostly is from a monthly chart. Then a move down in times frames to a daily. If I see a bigger picture pattern in the monthly that is bullish it normally has more weight then a daily chart. The telecoms chart is longer term bullish to me right now..Originally posted by billyjoe View PostComment
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Ski thanks for posting the ETF chart. I'm liking TTH right now and may look for a longer term trade in it. Here is a monthly chart of it
TTH has the following AT BCE BLS CBB CTL EQ LVLT Q S T TDS VZ WINComment
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I'm not very bullish in the GOLD groups right now. I don't like the gap down..Originally posted by Gwhiz View PostComment
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