Gold stocks break out of trading range

We’ve been tracking gold stocks for some time and the breakout happened today, following a 3.02% move in the gold bullion (GLD).

SPDR Gold Shares (GLD) up 3.02%

The Fidelity Select Gold (FSAGX) fund is up 1.64% today and broke out of its trading range

Bull corner

The Fidelity Select Leisure (FDLSX, up 1.24%) fund continues to hold in a bullish trend above it’s 100-day moving average. So does the Biotechnology fund (FBIOX, up 0.96%).

Watch list

Markets surged around the globe on hope that the European Union will help Greece manage its growing debt burden. Interestingly, the biggest Fidelity fund gainers on our watch list were the Fidelity Select Air Transportation (FSAIX, up 4.37%) and the Fidelity Select Transportation (FSRFX, up 3.57%).

The Medical Equipment fund holds, but the Real Estate fund takes a dive

The Fidelity Select Medical Equipment fund (FSMEX) is one of the few funds finishing higher today in a weak market. Although the fund is above it’s 100 day moving average and one of the strongest amongst sector funds, the price pattern has not turned bullish yet.

The Fidelity Real Estate fund (FRESX) is down 2.63% after the close. Real Estate Income (FRIFX) is weakening too, but still stays in uptrend.

Watch list

Quiet and low volume day in the markets as the snow storm hit the East Coast. Market indeces closed flat or moderately lower, so did most Fidelity funds we track. The Fidelity Select Leisure (FDLSX, up 0.15%) fund was one of the exceptions. FDLSX closed moderately higher. The Fidelity Select Home Finance (FSVLX, up 0.37%) was up too.