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Strategies & Market Trends : Fidelity Select Sector funds
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To: Julius Wong who wrote (2180)1/7/2000 1:29:00 AM
From: Angler  Read Replies (1) of 4916
 
Julius:

I think that these assessments comprising funds outside of Hi Tech and Telecom sectors would probably be expeditious, but worries (the unemployment report due out tomorrow morning and the ensuing Fed meeting next week with a probable increase in interest rates) had bothered me already.

Now having been away and returning home late, I turned on my Email and found a friend had left an unwelcome message that Lucent had dropped 20+ pts. in after hours trading. My small position in LU doesn't bother as much as the prospect of a big drop in the market tomorrow starting with techs again taking a big bath.

This may abort a Fed increase, however, so some benefit may result by not adding insult to injury? Luckily I had exchanged some sectors heavily into M.Mkt. (esp. those holdings that belonged to young unconcerned family members) in the last two days because of this Emp. report, but it won't be enough I'd guess? This might be a triple hitter!

What is your fix on next week beyond the Nasdaq's further bruising tomorrow? Should we get into cash fast and help the destruction along hoping to trade back at lower prices? Or should we tough it out? It's too late for you answer this before the opening salvo. Maybe I'm just paranoid. Hope so.

Angler
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