Can the grinch steal the holiday rally in 2011?


The technology sector, one of the market leaders during the recent fall rally, is in a bearish downtrend now. As we warned on Nov 17, the Fidelity Select Electronics fund (FSELX, change: -1.42%), just as most investments in the sector, was in danger of breaking down. Unfortunately, the breakdown did happen and the likelihood of a December rally to new highs has weakened significantly.

The technology sector, one of the market leaders during the recent fall rally, is in a bearish downtrend now. As we warned on Nov 17, the Fidelity Select Electronics fund (FSELX, change: -1.42%), just as most investments in the sector, was in danger of breaking down. Unfortunately, the breakdown did happen and the likelihood of a December rally to new highs has weakened significantly.

 

Mutual fund screens and buy/sell signals are provided by FidelitySignal.com  

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