Dennis
"down for the rest of the year."
Yours is one of the first near term bearish (though Thean does qualify his bullish outlook) post I've seen. Why?
BTW I also use FSESX, but I'm holding it, because I missed the top and--based on past experience--if you miss the top, I say hold on, don't sell. I still have >50% gain, but it is getting tense... because I'm expecting this to be a correction, NOT the end of this raging bull market in drillers. With electronics (FSELX), I got out at the top this time, which feels much better, I must say, than riding out these corrections.
So, if you have a rationale for your down til the end of year comment, I'd love to hear.
(I know I asked you, but here it some more of my experience... with Fidelity selects, which I've tracked in detail for years, once one of these drops down, first out of the top five or seven--based a 13 week ROC ranking--it's a short to intermediate term bearish sign, but then if it drops out of the top ten, it stays down for awhile and takes many many weeks if not months to come back into the top 5, which is where you make the best money. I'm not tracking the selects that closely anymore, but this drillers sell-off must have pullled FSESX out of the top ten. Actually, now that I've said that, I think I'll go check tomorrow.)
Regards,
TomLF |
