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Strategies & Market Trends : Fidelity Select Sector funds
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To: SG who wrote (4608)6/13/2002 6:18:51 AM
From: MoneyPenny  Read Replies (1) of 4916
 
Julius will give you a good answer later about shorting. There are many new shorters here at SI who are entering a minefield they know nothing about. It is against my nature to short and I don't have the stomach for it although I was tempted many times by certain tech and internet companies.

It is important, especially if you would invest in precious metals, to spread your risk. One gold stock is not a particularly good idea. I am not sure what you mean about Glamis losing everything. It is trading off from its high of this year but still way up. If you bought at the last top you may have to wait a while. Large forces are working to keep the price of gold down as long as possible. Many believe that there are Enron like conditions in the Gold derivative trade.

I have about four speculative mines, two larger companies , a closed end fund holding physical gold (CEF) and fsagx, although I have less than I had a while back. I am also out of fsesx temporarily. Mines may have big finds of gold or they may come up short...just like oil drillers. The select funds are ways of playing these sectors without having to spend endless hours researching companies.

I think the gold rally has just begun. Macroeconomic issues and geopolitical forces seem to confirm this. Sharon
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