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

To: Julius Wong who wrote (3004)	10/12/2000 10:52:18 AM
From: Angler	Read Replies (1) \| Respond to of 4916

Julius: I'll go along with your first 2 picks. However, I still think we're heading for a meltdown. So have doubled up on FSNGX and FSESX. When HD takes a big dump today and MWD a few days ago, it's going to wake some sleepy folks up. This is not a good time to hang in there. Incidently, I got hit on both the above so maybe I'm just whining? It's great that we do have trading ability with these hot sectors at times. They act as a hedge. Angler

To: Julius Wong who wrote (3004)	10/15/2000 4:29:08 PM
From: Julius Wong	Read Replies (1) \| Respond to of 4916

Abby Joseph Cohen, Goldman Sachs MARKET OUTLOOK The market slide is overdone. The US economy remains strong fundamentally. Economic growth continues but at a slower pace but one which is sustainable for a long period. GDP expansion 3-4% Profit growth 8-12% Adds up to market which can move higher once investors are convinced there is no recession Significant Wild Card in the economy is the Middle East. Clearly the situation there is grave. The most likely impact on energy is that there will be pressure points over the next few months as winter comes. That will be before capacity can be increased. If we get through the next few months things look good. Energy will be lower a year form today. Middle East developments suggest and increased probability of short term spikes. No matter who wins the election there will be a change in fiscal policy. The candidates are getting more realistic and seem to be understanding that 10 year projections for surplus are not likely to be correct.. SECTORS LIKED: Financial Services Energy REITs Never was concerned about the fundamentals of the leading techs but rather the valuations. Corporate earnings are way to early to predict. Sitting on the period after pre-announcements and before real core earnings. COHEN QUOTES: S&P 500 is 15% undervalued Sees S&P 500 at 1575 by year-end Assumes profit growth of 8% down from 20% Oil might spike above mid-30s but only for a short time