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

To: Jim Battaglia who wrote (1150)	11/9/1998 5:01:00 AM
From: Bernie Kaplan	Read Replies (1) \| Respond to of 4916

FSESX has become one of the most erratic and unpredictable funds in the entire family this year, while any of the tech sectors usually provide similar returns during an uptrend due to a significant overlap in the largest holdings. I am currently showing Software a bit stronger than the others in the near and intermediate term, but that obviously doesn't mean it will be the best fund this week. All the techs generated Buys on 10/9, and have never fallen below Holds since that date. I am current holding Computers and Electronics in my client's portfolios, as well as FSESX which was purchased on 10/16 at time of Buy signal. I try to avoid making predictions at all times, but I don't expect much action this week ahead of the Nov 17 Fed meeting. My gut tells me no rate cut this time around, a sentiment that seems to be echoed by the bond market with the continual increase in the yield on the 30 year bond. This back up started when the 3.3% GDP figure was released the other week, although the stock market seems to be ignoring this sign of strength despite what bonds are telling them. If the Fed does nothing, there should be quite a negative response from the complacent fellows down on Wall Street. Biggest eyesore right now is near term weakness in transports, with Retailing and Leisure worth watching for gains after improving momentum last week. Bernie