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

To: MoneyPenny who wrote (1781)	4/24/1999 11:47:00 PM
From: Angler	Respond to of 4916

Hi, MoneyPenny: I love roller coasters but hate to see my investments take off downhill without me (torn between greed and fear). I'm not shorting anything yet but may shortly when I short SLE Monday after collecting on my puts?? I agree with you that shorting a fund could be foolhardy as one doesn't know what the fund mgr. might be doing at the same time to save his positions. He's the house and it's his game we're playing so I think one either gets in or out straight forward. IMO. I know Dennis was interested in FAX and I am encouraged now about my holdings in that Aussie Bond fund as we intimated to him a while back. I am underwater in FAX but as they say Downunder "No fear. Fair dinkum". Commodities are coming back and that's what N.Z. and Aus. are all about. They're not about value added stuff. Besides the Asian tigers lying off shore from Perth are beginning to rustle about again. Fax a good pick. Someday I hope all our friends can take the trip across the Nullarbor desert by train (with a real dining car) crossing 5 time zones between Sydney on the East to Perth on the West coast. That's a trip with a gambling car back aft. Angler

To: MoneyPenny who wrote (1781)	4/26/1999 1:48:00 PM
From: Angler	Read Replies (1) \| Respond to of 4916

MoneyPenny: Reference: FAX and FSESX A while back I got off subject talking about FAX - the 1st Aus.Prime Income Fund - we both own. Reiterating, I have not paid any attention to that income style investment for years but thought it was a good one, I must add the last news we got today: As of 4/21/99 M.S.Dean Witter has reduced the rating on this one way down. They give it their lowest rating of all closed end funds. Thought I'd better vent on this in case others might jump in before considering current analysis. I'm not selling anyway. On FSESX I've rolled over a lot of my position now into FSLXX. Buying drillers has been like going to the dentist again. It still appears technology and communication are the world's favorites. Angler