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Pastimes : Home on the range where the buffalo roam
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To: T L Comiskey who wrote (156)3/15/2000 10:06:00 PM
From: FR1  Read Replies (1) of 13572
 
"They just said on CNBS that they heard Fidelity is behind today's rotation. This is exactly what Fidelity did last year.."

Yeah, I agree. You don't move the DOW 300 points without major funds doing it.

IMHO, it seems really dangerous for Fidelity. Look at it this way, Fidelity sells all the techs and buys the DOW. I am a fund manager that is Fidelity's competitor. So I buy up the techs that Fidelity dumped. So I am holding semiconductors and Fidelity is holding Ford. Who's going to look good at the end of the year? Ford might be up 12% and the semis 100+%. If Fidelity wants back in, they have to dump the DOW stuff and go back to techs. Too late! The techs have been bid up past the level Fidelity sold them at

It's a very tricky game trying to get rid of the DOW and back into tech before you find yourself in a minus position. I know they are good at it but someday the "Quick Draw Kid" is going to get a bullet while the gun is half out of the holster. The down ride is almost over. How fast can you draw?
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