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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: The Perfect Hedge who wrote (3648)	11/24/1997 2:57:00 PM
From: High Plains Drifter	Respond to of 95453

CNBC is saying Fidelity is selling their oil service stocks saying earnings have peaked and all the good news is out. That's the best I can recollect what was just said. I feel the pain too. Long on NE and GW. Joe

To: The Perfect Hedge who wrote (3648)	11/24/1997 2:57:00 PM
From: bw	Read Replies (1) \| Respond to of 95453

Just on CNBC...Fidelity has been one of the main sellers in the recent week's slide. It's funds have been major holders of the service stocks, and started selling last Monday..and sent 200 letters out to fund managers to that effect. They see the sector as being one of "no surprises" to the upside..even though the fundamentals are there. Also, too much exposure..with everybody recommending. *too bad Fidelity didn't mail us the news on Monday <g>