Vermilion: EM Leadership Chart Book

Notable themes: • EM sector overweights: Based on long-term relative strength trends, we recommend overweighting Energy, Financials, Materials, and Tech... see pages 2-3. • Technical “steals” in steel: With steel's leadership status well known, it is challenging to find stocks that are not extended. Within the EM realm, this week's screen uncovered several names that don't fall into this classification; instead, they are either (1) just beginning to break out, or (2) pulling back to su...