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 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.
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.