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

To: Angler who wrote (1255)	11/25/1998 3:05:00 PM
From: Dennis	Read Replies (3) \| Respond to of 4916

Happy Thanksgiving ALL, I don't know if the selects are meant to be traded as you say......I am holding fsphx LONG term as well as the computer fund. In order to trade one has to be in front of the computer a lot more than I am willing to spend. I didn't do a good job explaining my position about TA and selects. Let me try again.......TA is basically tied to share price and volume, correct??.....as Carolyn says. Well.......lets assume that the computer fund has a load of MSFT and MSFT is on a tear, the government decided to drop its suit (year, right).... for no apparent reason the manager of select computer sells all of his msft today.....we as shareholders would NOT know this for three months ....the fund IS in the mean time going up each day , a little, because the whole sector would respond positively to such news, we would assume it is being moved by a huge position in msft and all the time the fund doesn't even own it anymore.........we end up getting a false sense of security as well as false TA data....we see msft going like crazy and our little select fund is not keeping pace......we can't figure out why. We stick with the fund because we do see positive results BUT our reason for sticking with it is NOT correct, even though the TA may look positive. DOES ALL THIS MAKE ANY SENSE????