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To: scott harrison who wrote (5649)11/25/1997 12:14:00 AM
From: Gottfried  Respond to of 9124
 
Scott, >what are we learning again? One thing I learned
today is to sell when I feel really good about my gains. <G>
No, not right now. Here's the full text of my post on one of
the oil drillers threads. The lesson applies to any industry
group and concerns the behavior of mutual funds. Somebody had
asked why the drillers had sold off:

...it may be Fidelity's fault. So says an article in Smart Money.
smartmoney.com

Excerpt
"When Fidelity starts selling, it usually takes three months,"
O'Leary says. "They go to one end of the market...wait for
Wall Street to start recommending the stocks
, pounding the
table...then move back in the other direction."

And we fell for it.

GM