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

To: gregor who wrote (1163)	11/9/1998 11:57:00 AM
From: Bernie Kaplan	Read Replies (1) \| Respond to of 4916

A couple of reasons. One - the stock market continues to rely upon lower and lower interest rates as a means of justifying the highest P/E ratios in history. All this at the same time that projections for corporate earnings continue to be reduced for the upcoming quarter or two. Lacking fundamental support for running the market back towards all time highs, a lack of action by the Fed could pull another leg out of the already wobbly chair that equity afficianados are standing on. We will just have to wait and see, but I wouldn't make any moves in anticipation of action by the Fed or lack thereof. Keep judging each fund individually, day after day, using momentum direction and strength studies and the technical charts to guide you in your investments.