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

To: Julius Wong who wrote (3950)	9/23/2001 5:12:54 PM
From: Angler	Read Replies (1) \| Respond to of 4916

This is a very difficult market situation to diagnose. Prices on some major cos. stock are very very cheap in spite of a declared recession. However, the kicker is another incident IMO. Another incident of even lesser proportion could cause redemptions to begin anew or even a total disenchantment with stock purchases which would cause even late "great buys" to get thrown out with the bath water. If the terrorists go underground and chose to stay underground except for dashing about trying to avoid pursuers, we may have a long period of an up and down traders market with shorters dropping in. None of this is going to stabilize the structure. Most sectors still look precarious to me except the ones that have moved up or held their own in the last week. My perspective is short term - 2 yrs. out at the most. This week should prove how resillent the longs are? Otherwise America will perservere beyond this pain we have suffered. Angler