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Strategies & Market Trends : Fidelity Select Sector funds

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To: rkf who wrote (1750)4/14/1999 11:34:00 PM
From: Julius Wong  Read Replies (1) of 4916
 
Kent:

Today is a bad day for drugs: FSPHX down 3.13%, FBIOX down 3.66%
Several funds moved up nicely: FSPFX up 6.46%, FSCHX up 4.48%, FSHCX up 3.09%, FSRFX up 4.24%, FSAIX up 3.02%

In the near term we'll see more volatility. Probably a sell off of internet stocks. And the computer stocks will move down with internet stocks in sympathy. A 10% correction is quite likely.

The cycles/waves followers are charting a retest of Dow 7450 in June/July time frame. I don't understand cycles/waves.

In the longer term the wall street (not chart readers) expects the emerging markets to improve. Metals, chemicals, papers move up in anticipation. FSHCX is bottoming out. Mid cap and small cap stocks are improving, slowly.

Julius

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