Point & Figure Sector Watch (updated weekly)

The NYSE Bullish Percentage went on offense on July 3rd. It stands at 53.98% and the OTC Bullish Percentage remains on defense at 40.69%. (OTC would reverse up at 46%)

The following sectors are on Point & Figure buy signals: Electric Utilities, Precious Metals, Gas Utilities, Real Estate, Savings & Loans, Oil, Foods & Beverages, Textiles, Transportation, Gaming, Auto, Healthcare, Waste, Metals, Building, Protection, Computers, Semiconductors, Biotech and Software.

Reversed up this week:: Software & Biotech Reversed Down this week: Wall St

Some Leading Names in leading Sectors:

Gold: AAUK, CBJ, CGR, KGC, GG, ABX, IMPUY, IAG, GSS, OZN

Silver: CDE, SLW, SSRI, PAAS

Utilities: CTCI, EP, TXU, OGE, EXC

Biotech: DNA, AMGN, BRLI, CELG, LIFC, BLUD

CANSLIM energy names that are ranked 1 buys by Zacks: BRG, FTI, HOC, OII, DRQ, NHY, PTR, SII, SLB, SPN, WHQ, XOM (VTS) and metals & mining names: BHP, RTP, MDG, PCU

note from me: A point and figure chart is a disciplined approach to selection and managing risks. It was created by Charles Dow and is based on supply and demand (economics).
A reading of 30% is low and a reading of 80% is very high. The higher the percentage the greater the risk. This is important to watch while in the market and/or waiting to put new money to work. These Bullish Percentage indicators relate to risk levels and are not “buy” or “sell” indicators on the NYSE or the OTC. The bullish percentages should indicate to an investor when to be aggressive and when to be defensive. As the reading goes over 70%, sector selection becomes a more critical part of your strategy. These indicators can be found at www.dorseywright.com.

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