Has anybody the best way to analyse the different sectors and compare them before buying stocks? Which are those sector and where can i find the symbols for charting?? Thxs. Traderix
Try www.chartcraft.com or www.dorseywright.com They both do sector comparision based on averaging point&figure patterns of the belonging stocks, among other things.
Go to BigCharts.com and click "Industries". You can limit yourself to the first level of 10 sectors, or you can go thru several levels all the way down to 200+ groups.
Depending on the level of sophistication of your software (I use InvestorRT), you may find it helpful to create different lists, which each contain stocks representing a sector. You can then run sectors against each other, and likewise with stocks within each sector, to get a good idea of strength and weakness. (For example, it can be interesting and sometimes helpful to look at the average stochastic level of all stocks within a sector, compared with other sectors and the S&P.) Another good source for sector ideas is to simply go to the Yahoo finance site. Enter a stock symbol. Then select "Industry" on the left of the page, and follow the links. You'll find major companies in each industry listed.