eSignal "Hot Sector" Sector Scan Idea

[MR]

Have you ever used the eSignal "Hot Groups" Scanner?

Using the Hot Groups scan this morning the Auto & Truck Manufacturers (Consumer Cyclical) sector stood out.

Below is an example of how to use this scanner to generate a potential stock or sector trade idea. In this example used previous daily breakout MOB as a "directional level," and will be working on developing either a Type 1 Buy setup or a good risk/reward personal preference setup.

Try applying the same logic explained below to GM. Post your ideas here if you wish so we can all compare notes on cross referencing time frames and individual stocks within a hot sector.

[MR]

A follow-up weekly GM chart, showing a similar pattern to DCX (see below)....

[MR]

Ford weekly similar to GM and DCX charts below....

[MR]

Just following up on this earlier thread. Read the whole postings to better appreciate....

[MR]

Just following up on this earlier thread. Read the whole postings to better appreciate....

[MR]

ford update

Just following up on this earlier thread. Read the whole postings to better appreciate....

[MR]

(The purpose of this thread was to just show you a very simple
sample of sector analysis. It is one way to improve an individual
stocks chart understanding. Scroll down to see before and after
samples and read comments.... Hope it has some value to you.)

[MR]

Re: eSignal "Hot Sector" Sector Scan Idea

Back in December I posted charts suggesting the Auto Industry was 'hot' and had positive Elliott Wave patterns, worthy of watching for Type 1 Buy setups on pullbacks.

For practice, scroll down and review the previous Auto stock posts, then take a look at cuurent charts. See how they have conformed to overall comments made the end of last year.

This might be a good practice exercise which could help you in the future with other similiar sector setups.

Marc

Originally posted by MR Posted: 12-03-2003 12:53 PM
Have you ever used the eSignal "Hot Groups" Scanner?

Using the Hot Groups scan this morning the Auto & Truck Manufacturers (Consumer Cyclical) sector stood out.

Below is an example of how to use this scanner to generate a potential stock or sector trade idea. In this example used previous daily breakout MOB as a "directional level," and will be working on developing either a Type 1 Buy setup or a good risk/reward personal preference setup.

Try applying the same logic explained below to GM. Post your ideas here if you wish so we can all compare notes on cross referencing time frames and individual stocks within a hot sector.

[MR]

FWIW, this sector should stall out-- profit-take-- the next few months with growing fears of higher gas prices, and interest rates. Eventually it will rebound.