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Strategies & Market Trends : Fidelity Select Sector funds
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To: Dennis who wrote (2788)7/23/2000 6:41:36 PM
From: Angler  Read Replies (1) of 4916
 
Yes, Dennis:

The financial sector is edging a bit upward but can't seem to break thru the 500 index this year.

Credit card debt and margin debt are still creeping up. If the market drops, investment houses are going to suffer.
The Fed Chairman is looking at ever increasing labor shortages as too few employees are jumping around from job to job or taking vacations as they choose to spend their at a premium time.

When First Union quickly dumped their costly Money Store acquisition without waiting for the wave to flow their way, it looked very negative to my view. I felt that the banks are not looking favorably into the future. Bank One's dismal credit card experience is another indicator. I think Mr. Greenspan will raise rates one more time which will hurt the economy - not good news for lenders IMO.

Aside from this it would be helpful if the military were not holding so many young Americans in foreign places. Many of these could fill beginning jobs in civilian industries including high tech that are begging for foreign workers. The competing Services are offering all kinds of monetary incentives to both keep, sign up and re-enlist personnel still standing watch in Europe where the war ended 55 years ago. My op.

Angler
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