EM leadership screen & chart book
Notable themes:• EM Sector Overweights: Led by Tech, which is advancing to new relative strength highs, cyclical sectors continue to outperform. Energy and materials present timely buys; both sector's relative strength trends have pulled back to support levels. We still recommend overweighting energy, financials, materials, and tech... see pages 2-3.
• India is Outperforming: India is staging a comeback. The Nifty 500 Index is advancing to all-time highs, and its RS trend is beginning to break out relative to the MSCI EM Index. This week's screen confirms this strength: 25% of all stocks making the cut are based in India. Steel stocks like Steel Authority of India are particularly strong.
• Strength in Metal Fabrication Stocks: This industry, like most of the materials sector, is screen well for relative strength highs. Actionable names include: Catcher Technology (2474-TW), Bharat Forage (500493-IN), Northam Platinum (NHM-ZA), and Duzon Bizon (012510-KR).
• Rotate into Small Caps: The EM Small/Large-Cap ratio is reversing a 12-month decline in favor of small caps.
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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.
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