The Fidelity Nordic Fund is in Overbought Territory

Fidelity Nordic Fund (FNORX, last change: 2.38%)

We highlighted the Fidelity Nordic Fund (FNORX, last change: 2.38%) as the strongest-performing Fidelity international fund in previous blog posts. FNORX has returned 14.34% in the last three-months, but now it is in an overbought condition. We wouldn’t be surprised to see a correction in the next few days in the Northern European markets. Consequently, this may be a good opportunity to take gains.

 

Buy/sell signals for Fidelity funds are available at FidelitySignal.com 

 

Overextended Stock Market Pulls Back Today; The Fidelity Nordic Fund is the Best International Fund of 2013

Fidelity Nordic Fund (FNORX, last change: 0.54%)

In spite of the market correction today, the Fidelity Nordic Fund (FNORX, last change: 0.54%) has made a new 52-week high. FNORX has far outpaced other Fidelity international funds so far in 2013. Investors looking for international diversification might want to take a closer look at Northern Europe.

Buy/sell signals for Fidelity funds are available at FidelitySignal.com 

Mixed market today, Nordic fund gains the most in Europe

The North European markets showed the most strength today in response to the vote by the German lawmakers in favor of expanded powers by the European bailout fund. In spite of today’s gain, European markets remain in downtrend.

Fidelity Nordic fund (FNORX, change: 3.34%)

Fidelity Nordic fund (FNORX, change: 3.34%)

Mutual fund screens are provided by FidelitySignal.com

 

Whipsaw market action

Financial markets continued to confuse investors today. Across the board selling dominated the first part of the trading session, but U.S. indexes managed to stage a late afternoon rally. The Fidelity Select Leisure (FDLSX, up 1.22%) fund gained the most today out of all of the sector funds.

The losers of the day were European funds again, as worries continued about the resolution of the Greek debt. The Fidelity Nordic (FNORX, down 3.88%) was hit the hardest of the Euro-focused Fidelity funds. The Fidelity Europe Capital Appreciation (FECAX) fund closed down -3.12%.

Fidelity Europe Capital Appreciation (FECAX, change: -3.12%)

The Fidelity Europe Capital Appreciation (FECAX, down -3.12%) is hit hard as worries about the Euro debt crisis continue.

Mutual fund screens are provided by FidelitySignal.com