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

To: Russ Motter who wrote (1347)	12/15/1998 10:21:00 AM
From: Angler	Respond to of 4916

Hi, Russ: I do agree that the FSESX group is hugging the bottom again. My attitude is probably based on hind sight, but I do like to buy things when they are cheap normally. FSESX was cheap 3X this last yr. of trading = triple bottoming for a total loss of 52%. I went after FSESX twice and sold the first time for a huge loss, the second time was only 10%. Not only that I got creamed on two direct stock buys: NBR and FLC still held at over a 50% paper loss. Now looking at the charts both FSENX and FSESX together certainly could present a buying opportunity to anyone but me in this volatile month, but until the price movement confirms convincingly I'm away from this sector. I am following lately WM. O'Neil's (IBD) recommendation of getting out when a stock drops 8% below cost - however, I have modified that somewhat to 10% below my long term profit during turbulent periods. Otherwise I would lack cash to buy into a severe correction. There are always exceptions to any rule. Good luck and happy holidays. Angler