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Strategies & Market Trends : Fidelity Select Sector funds

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To: Julius Wong who wrote (1065)	10/24/1998 10:40:00 AM
From: Angler	Read Replies (1) of 4916

Julius: I continue to watch for your ten top funds. I moved into fsptx 6 days ago and was well rewarded. The one that I carry the biggest amount of continues to be fsutx as my expectations of another interest rate drop are high, and that fund has a greater amount of telecom stuff in it than electrice utilities. The name of that fund is really a misnomer - Utilities - since the mgrs strongest positions are in other allied industries. However, one can't fault his selections since electric utilities in general are not acting like I expected going in the same direction as interest rates now - a contradiction. I believe this suggests that the general investment community big and small is still oriented to a Bull stance, and retreat into very liquid money markets and cash waiting to pounce again on high flying equities ignoring dividend payers? My recollection of market movements comes from advice given me as a young person with no money to invest when an old friendly customer told me to avoid gambling and then remarked that the market always anticipates 6 months in advance, suggestions that I never was able to put in play for years thereafter. Angler

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