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

To: rkf who wrote (1750)	4/14/1999 10:37:00 PM
From: Jim Battaglia	Read Replies (2) \| Respond to of 4916

Kent, a bad day for the Health Sector. Shares of the big U.S. drug makers fell Wednesday amid profit-taking ahead of first-quarter earnings reports and heightened investor interest in ''cyclical'' companies which benefit from global economic expansion. The American Stock Exchange Drug Index, which includes big U.S. drug makers and a handful of large European companies, fell 4.35 percent to 403.79. Many of FSPHX top holdings took it on the chin. Check out holdings: quote.yahoo.com FHLSX did not do well either. quote.yahoo.com Jim

To: rkf who wrote (1750)	4/14/1999 11:34:00 PM
From: Julius Wong	Read Replies (1) \| Respond to of 4916

Kent: Today is a bad day for drugs: FSPHX down 3.13%, FBIOX down 3.66% Several funds moved up nicely: FSPFX up 6.46%, FSCHX up 4.48%, FSHCX up 3.09%, FSRFX up 4.24%, FSAIX up 3.02% In the near term we'll see more volatility. Probably a sell off of internet stocks. And the computer stocks will move down with internet stocks in sympathy. A 10% correction is quite likely. The cycles/waves followers are charting a retest of Dow 7450 in June/July time frame. I don't understand cycles/waves. In the longer term the wall street (not chart readers) expects the emerging markets to improve. Metals, chemicals, papers move up in anticipation. FSHCX is bottoming out. Mid cap and small cap stocks are improving, slowly. Julius