How To Make Money Trading With Charts – 3rd Edition [PDF]

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How To Make Money Trading With Charts – Book

• Some sectors, such as FMCG and leisure, rely heavily on sales to consumers, while other industry sectors such as chemicals and environmental services target industrial buyers. For yet other sectors, like defense and aerospace, the government is a major customer. These differences matter when it comes to gauging the effects of different economic indicators, such as consumer confidence, durable goods order position, or the budget deficit on different sectors.

• Some sectors, such as retailing for one, are labor-intensive; others like utilities are capital intensive, and some like transportation are very fuel intensive. These differences matter when it comes to assessing how different kinds of macroeconomic shocks like wage inflation, interest rate spikes, and energy price shocks would impact individual stock price movements.

• Some cyclical sectors, such as autos and paper, are closely tied to changes in the business cycle and are the first ones to tank during a recession. Other sectors, like food and healthcare, are non-cyclical and therefore much more immune to a recession. This distinction will help you find winners to ride in a bull market and defensive sectors to flee to during a downturn.