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

To: Bernie Kaplan who wrote (1159)	11/9/1998 11:29:00 AM
From: gregor	Read Replies (1) \| Respond to of 4916

Bernie i.e. FSESX: The sentiment last week was that the OSX sector was slowing because of relative strength to the Dow and S&P. This week that seems to reverse. The price of oil is down today, both the Dow and S&P are down and the OSX is up over 1%. So much for relative strength Now. Concerning the perceived rate cut the 17th of Nov. At most all the analysts are giving it a 50/50 chance. Whether we cut or not , central banks all around the world are cutting, the European benchmark on overnight rates has fallen to 3.3 & ( I've heard ? ) So why should there be an overreaction on the negative side if Greenspan Inc. does not cut on the 17 Th. The employment report was weak last week, we are holding at 4.6% after a low of 4.3 %. BWDIK..gregor