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Strategies & Market Trends : Fidelity Select Sector funds
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To: Jim Battaglia who wrote (1396)12/25/1998 9:18:00 AM
From: Julius Wong  Read Replies (2) of 4916
 
Jim and James:

Thanks for the info and sharing your ideas on the AMEX
Select Sector SPDR. Your messages helped me to start
looking.

I went to the page mentioned in your messages to see the
list of Select Sector SPDR components:
amex.com

In recent years the index funds are hot. The index funds
pushed the market to favor Big Cap stocks. I tried a
simple "Big Market Cap" calculation on the Fidelity Select
funds by adding the market cap of the top 10 holdings of
each fund for a quick look. This is only a quick check,
to be correct I should also use the weight percentages.
The simple summation found that the better performing
funds are also the "Big Cap Funds."

Some examples are:

Fund Total Cap of
Symbol Top 10 Holdings
----- ----------
FDCPX $1,133.3 B
FSPTX $1,116.3 B
FSPHX $ 849.8 B

In the Select Sector SPDR, the Technology (XLK) looks like
the Biggest Cap Sector SPDR. If the market continue to favor
Big Cap, a buy and hold of XLK should do well.

For timing, the TA gurus in SI like the Dahl indicator (based
on 50-day MAs) for mutual funds.

Julius
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