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Strategies & Market Trends : Fidelity Select Sector funds
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To: Money Mood who wrote (420)11/13/1997 9:20:00 PM
From: Angler  Read Replies (1) of 4916
 
Viktor:

When the rest of the market was hit up until Monday FSESX had been holding up well. Even on Monday it held a small profit; however, the barrier finally broke as investors who had huge profits decided the time was ripe to lock them in. The total market is up a little.
Today early I checked my benchmark stocks: SLB, NBR, HAL and etc. and they had started on the upside over a point each. I left and when I returned the same issues had reversed. It is obvious that some want to come in and buy this group while others now are willing to sell into strength. They can't be faulted for that.
The Asian situation has all on edge and with Saddam to boot, but he hasn't affected big oil stocks to which FSESX is tied to inevitably. So my impression is that sales are based on profits. Take a look at the same chart of FSESX January this year. It's a clone. But the profit takers are in earlier now.
Tomorrow I'll take another look and maybe see the same scenario. The group had been down over $1.05 midday and wound up under 94c. Anyway
even strong stocks with big earnings potential will fluctuate. If one gets out early, he can probably buy back in more benefically. I haven't.
A buying opportunity - can't say I have the guts but will hold.

Angler
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