Vermilion EM Screen & Chart Book: Actionable EM Ideas
BRIC markets lead EM higherOur Emerging Market Screen & Chart Book helps pinpoint leading stocks, weeding out lagging and stagnating trends. This is performed through a screen with a simple filter: only stocks trading within 5% of a 26-week relative strength high make the cut. From this list, we scan through each chart and highlight the most favorable set-ups.
Screen parameters: (1) Market Cap >$500 mil, and (2) trading within 5% of a 26-week relative strength high (vs. MSCI EM Index)
Highlighted themes and actionable charts:
• BRIC markets are outperforming broad EM. The MSCI BRIC/EM ratio is advancing to 2-year highs, and we're seeing this strength in our screens, which are heavily populated with Brazilian, Indian, and, more recently, Russian names. (Note: we left our local Chinese shares from this screen.)
• Sector leadership. Tech, advancing to all-time RS highs, remains untouched as a leader. But we are seeing building strength in energy and materials, two sectors we recommend increase exposure to... see page 2
• Long-term bases are visible throughout the Trucks/Construction/Farm Machinery industry. Actionable names: PT United Tractors (UNTR-ID), Ashok Leyland (500477-IN), FAMUR (FMF-PL), Iochpe Maxion (MYPK3-BR), and Marcopolo (POMO4-BR)....see page 3
• Shipping stocks are emerging from long-term bottoms. A handful of Asian shipping stocks are slowly emerging from multi-year bottoming patterns. Attractive set-ups include: Pan Ocean (028670-KW), Korea Line (005880-KR), U-Ming Marine Transport (2606-TW), and Wan Hai Lines (2615-TW)... see pages 6-7
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Vestel Elektronik Sanayi ve Ticaret is a consumer electronics, white goods, and digital products company based in Turkey. Co. is engaged in producing electronic instruments, devices, equipments, spare parts, tools, components, videos and colour televisions throughout Turkey and Europe. Co. operates within three divisions: television production; refrigerator, air conditioning units, washing machines and cookers; and digital devices. Co.'s production facilities are located in Manisa industrial site (Aegean Region, Turkey), Vladimir Region, Russia and Izmir Aegean free zone industrial site.
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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