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Strategies & Market Trends : Fidelity Select Sector funds -- Ignore unavailable to you. Want to Upgrade?

To: rkf who wrote (2850)	8/26/2000 12:39:01 PM
From: Julius Wong	Read Replies (1) \| Respond to of 4916

Kent: Election year stock market data showed a fall rally. I'll go along with that. Julius

To: rkf who wrote (2850)	8/29/2000 12:50:11 PM
From: selectinvestor	Respond to of 4916

From this week's Commentary ----------------------------------------------------------------------- The Select Investor Weekly Commentary August 25, 2000 ----------------------------------------------------------------------- The Good News Momentum is returning to the technology sectors, leading to a very broad based rally. Last year we had the Stealth Bear Market - the major indices were very strong, but most stocks were very weak. Since March the Bear has not been so stealthy. Even now, most major indices are hovering near zero return for the year. Fortunately, whether the Bear is stealthy or not, a sector strategy can find the profits at the edge of all but the deepest of bear markets. The broad based rally of the last few weeks may signal that the Bear may be heading for an early hibernation. We do not expect the markets to head straight up without pause, but it is possible that the end of year rally will be dated from mid-August, with only a few short, sharp corrections between now and the end of the year. The Bad News The only dark clouds on the horizon at this time are due to high energy prices. US inventories of crude oil, heating oil, and natural gas are at historical lows, while global demand continues to increase. If inventory shortages cause very high energy prices this fall and winter, they may turn Alan Greenspan's soft landing into a rough ride. Fortunately for us, even if high energy prices prevent a broad based rally this fall, there will still be several strong sectors ( namely the energy sectors ) for us to choose from. Russell Cox selectinvestor.com