The Market Soars After the Fed’s Stimulus Announcement; Gold Stocks Benefit the Most

FSAGX

We have followed the breakout of gold stocks in our previous blog entries. The breakout continued today with the Fidelity Select Gold Fund (FSAGX, last change: 4.42%) making the largest gain of all of the Fidelity mutual funds we track after the Fed’s announcement of the stimulus package. In spite of the bullish action, we now are concerned about gold mining stocks becoming overbought and ripe for a pull back.

Technical analysis screens are provided by FidelitySignal.com

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