While I abdicated doing my sector charts because Finviz had them, I'm going to go BACK to providing my sector reports. The PROCESS of putting that together helped me feel more centered on the market. I'll resume that not this weekend, but next weekend. I was feeling like my work was redundant (which they were) against FINVIZ.
Seems like the market is dominated by currency wars (fisticuffs?) I'm not sure how any of it gets sorted out, but we'd best keep half an eye on interest rates and half and eye on the USD levels.
I was wandering about in the foreign Telecom sector. I wanted to share a couple of charts with you.
Here, Brasil Telecom (BTM). It has an interesting Volume by Price profile. It has been a laggard in the foreign telecom area, but this set-up looks promising (click to enlarge).
I have no position in this, but I like this set up quite a bit. Notice that if price can clear the top of the volume bar, there are few sellers lurking above. Lots of accumulation over this period and at this price level. As you know, there are no sure things (except that there are NO sure things). But it's an idea for you.
While many are talking about gold being parabolic, take a look at this parabolic chart (click to enlarge) of Philippine Long Distance Telephone (NYSE:PHI) that you didn't hear anything about!
I don't own this, nor am I suggesting it as a buy, but it was a nice parabola! As you might surmise, as with most of these telecoms, the dividend made it very attractive.
Tele Norte (NYSE:TNE) is another interesting chart (click to enlarge):
I'm not thrilled about the fundamentals, but there is some volume coming in, and it might be worth putting on a watch list to see if it can make some more progress.
I don't own any of these, and BTM is the chart pattern that I particularly like. Not much exposition here, so I'm sorry for my laziness. I just wanted to throw a couple of charts out.