Fidelity Funds

[HalfDog]

I have a 401K and I have the money in stock funds. Last year I watched the stock funds go from 6% to (-7%) then back up and settled around 6% at the end of the year. I would like to take advantage of the swings. I currently have a bond fund and 2 stock funds. I would like to move the money from the stock funds, to the bond fund, when they are going down then back to the stock funds when they start to go back up.

I believe that charts are a good tool for monitoring stocks.

Question:
Are charts good for monitoring funds, and if so, which indicators should I use??


Tks

[Burpzilla]

I'm glad I moved most of my accounts out of Fidelity. I still have a small trading account there, though.


Fidelity Brokerage Settles
SEC, NYSE Suit for $2 Million

By JUDITH BURNS
DOW JONES NEWSWIRES
August 3, 2004 2:04 p.m.

WASHINGTON -- Fidelity Brokerage Services will pay $2 million in fines to securities regulators to settle claims its employees deliberately altered and destroyed branch-office records before internal inspections in 2001 and 2002.

The Securities and Exchange Commission and the New York Stock Exchange brought and settled the action Tuesday. Fidelity Brokerage, a unit of Fidelity Investments, didn't admit to or deny the allegations, and the SEC said Fidelity Brokerage cooperated with the investigation.

The NYSE also brought disciplinary action against seven individuals formerly employed in Fidelity Brokerage branches in Oregon and Utah.

At least 62 employees in almost two dozen Fidelity Brokerage branch offices were allegedly involved in altering or trashing documents.

Fidelity Brokerage has 88 branch offices and inspects them annually. Regulators said branch office employees were under pressure to achieve perfect inspections and were given advance notice of when inspectors would arrive. Some employees used the warning to check records, altering or trashing any that were incomplete, regulators alleged. The conduct outlined in the SEC's administrative proceeding reflects "a serious failure in Fidelity Brokerage's compliance culture and in its supervision of its branch office employees," Randall Lee, director of the SEC's Los Angeles office, said in a prepared statement.

"Destroying and 'cleaning up' files in advance of internal inspections or NYSE examinations corrupts the integrity of the regulatory process and will not be tolerated," NYSE chief of enforcement Susan Merrill said in the same announcement.

The SEC found Fidelity Brokerage violated books and recordkeeping rules and failed to "reasonably supervise" employees who tampered with documents, including account applications, letters of authorization and variable annuity forms. It censured Fidelity Brokerage, ordered it to cease and desist and pay a $1 million fine, as did the NYSE. In agreeing to settle the matter, the SEC said it took into account Fidelity Brokerage's cooperation and the prompt fixes it put in place.

The NYSE took separate disciplinary action against six former employees of Fidelity Brokerage's branch office in Tigard, Ore., and a former customer service representative at the firm's branch in Salt Lake City. They agreed to be censured and barred for one to three months, without admitting to or denying the NYSE's claims.

Disciplinary proceedings are currently pending against managers of those branch offices, the NYSE said.

Write to Judith Burns at [e-mail].

[myDDdotcom]

still in cash. am going to get into the gold fund if stocks have a sharp rise in the next month-- possible.

imho, Jerome

[myDDdotcom]

FNINX at 1.61 and FWRLX at 2.58

Not in yet though, the oversold to oversold movement from here could be akin to last Sept. Besides, movement up from here would be a struggle at best, with little confidence to take in new money. Another round of capitulation will need to occur to invite money into the mk't, otherwise, there's no over-riding reason to cover.


imho, Jerome

[myDDdotcom]

Well, cycleswise, it could be a good time to move in, just looking as NASDAQ, a weekly 5 year chart, it's oversold. However, this is also a great time for a crash. Since '98, ~1500 has been support.

imho, Jerome

[myDDdotcom]

OK, probably about time to start looking to get into a position here, am thinking that wireless or computer hardware is a good sector for a 10-20% bounce from the low that is set here, so will start looking at the selects for a good buy now.

imho, Jerome

[myDDdotcom]

FSESX has done really well, Oil at 25 may be a peak though. Back in money markets for now.

imho, Jerome

[myDDdotcom]

Sorry, haven't posted update. I dumped out of the FSUTX for a small profit before it started to tank. It's too loaded with non-utlities, don't know why they do that there. I put it into FSESX instead a few days ago. I love this sector, it's at the bottom.

I will update the ibox later.


imho, Jerome

[myDDdotcom]

DJU reversal just about here:



imho, Jerome

[myDDdotcom]

Added:
Utilities Growth FSUTX 38.19 +0.22


imho, Jerome

[myDDdotcom]

Oil climbs; OPEC seen cutting output

Crude prices climbed back above $21 a barrel Wednesday on growing expectations that OPEC producers will decide on Friday to cut production by 1.5 million barrels per day even without full cooperation by nonmembers.


imho, Jerome

[myDDdotcom]

acq news for PTEN:



SNYDER, Texas (CBS.MW) -- Patterson-UTI Energy said it has agreed to buy 17 land-based drilling rigs located throughout Texas from Cleere Drilling Company.

Under terms of the agreement, Patterson (PTEN: news, chart, profile) will pay $13.5 million in cash, 450,000 shares of its common stock and issue 325,000 warrants convertible into common stock at a price of $26.75 for the rigs, 28 rig-moving trucks and other equipment and inventory.

The acquisition brings the company's total to 319 land-based oil and natural-gas drilling rigs.

Shares of the drilling contract service provider rose $2.16, or 9.8 percent, to close at $24.26.

Mark S. Siegel, Patterson-UTI's chairman also pointed out that the company has a "strong cash position" and $100 million line of credit.


imho, Jerome

[myDDdotcom]

Added PTEN to my energy mix today, and entered into these two funds, 50%:

Energy FSENX 22.95 +0.58
Energy Service FSESX 29.18 +1.17

Both strong and above breakout above ma's today, saving some for a possible pullback. Targets of around 30 for FSENX and 38 for FSESX.


imho, Jerome

[myDDdotcom]

FSENX 22.95 +0.31 Energy is a good play to be in right now, with cold starting to take hold in the US, gas prices are also at the bottom. Bought under a buck a few days ago, in the NW, that is really cheap, must be .80 in Texas.

imho, Jerome

[myDDdotcom]

Hi, this is more of a caretaker situation, and just going into positions for swings, also, it's only the funds that can be traded, I'm usually in for at minimum a 5% swing, anything else is just the trend. I do like MIR.

imho, Jerome

[Joemoney]

myDDdotcom, I don't know how much of a risk taker you are, but I looked at FSENX's 5y chart, and it hasn't even doubled in price:
http://finance.yahoo.com/q?s=FSENX&d=c&k=c1&a=v&p=s&t=5y&l=on&z=m&q=...

I personally, would tend to sway away from energy funds, and stick with energy stocks (if your bullish on that sector). I've been buying FST on dips for about 4 years now, and have made quite a profit watching them grow. I would even think now is a great time to buy, or perhaps there is a fund with FST in it. Take a look at FST - low P/E, high earnings, and still somewhat small which leaves room for growth.

Joemoney

[myDDdotcom]

Right now I am without a position, in a money market, am thinking of getting into one of the select energy funds, they have bottomed out, and are starting to rise now. I like this one, with a move over the 100 dma:


imho, Jerome