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

To: Julius Wong who wrote (3459)	3/3/2001 9:20:15 PM
From: Angler	Read Replies (1) \| Respond to of 4916

Julius: Nobody is "smart" people. Buy high. Sell low. That's what's happened with so many so called smart people. The Market Timer advised twice in the last 3 months to buy the QQQs below 70. Well, they started down at 70 and haven't quit yet. Until we see the box cos. begin to gain share price, I agree the tech business is in the pits. Angler

To: Julius Wong who wrote (3459)	3/5/2001 8:58:08 AM
From: Dan P	Read Replies (2) \| Respond to of 4916

Julius: I don't know, but central bankers don't always act based strictly on market conditions. Also, a lot of the gold was "leased" to bullion bankers, who in turn sold the gold. A lot of that is not recoverable (jewelry, etc.). One of the gold bugs' thesis is that there is a lot of gold that has been sold or sold short, and any significant attempt to cover these "shorts" would result in a huge up-move in the price of gold. Consequently, there is a lot of interest in those who have sold short to keep the gold market quiescent. The gold bugs think that it is only a matter of time (in our lifetimes??) that the market will eventually correct this anomaly. For whatever its worth, a number of analysts including Marantette believe that gold is forming a major bottom this spring. We'll see. Cheers Dan