Which mutual fund is giving highest returns in last 60 days?

You should not be looking at anything in the last 60 days. This is too short a term. Look more at five, but preferrably ten fifteen or longer if posssible. Remember, past performance does not guarantee future results. Read books by William O'Neill, founder of IBD. It will help you out greatly.

I don't know, but I'll bet a paycheck and give you 10-to-1 odds that it won't give the highest returns over the *next* 60 days.

Why can funds even advertise their track records since past cannot predict future performance? The truth is if a fund manager is really good, they will be recruited heavily and might not even be there in 60 days. Changing the fund manager is the type of change that could impact future performance.

Here are the top 20 funds from FastTrack for the last 60 days ending AP 20, 2007. You'll see it is mostly sector funds including enhanced funds (higher volatility).

Trading momentum strategies work well (contrary to other advice you got). However, that doesn't mean you should just buy winners blindly. Here's a guide,

http://www.fasttrack.net/Trading_sector_...

1,DIG,EXTRADED Ultra Oil & Gas(ProShr),19.12%
2,OEPIX,PROFUNDS INV:Oil Equipment & Distributin,18.67%
3,MXE,CLOSED Mexico Equity & Income,18.61%
4,OEPSX,PROFUNDS SER:Oil Equipment & Distributin,18.42%
5,UPW,EXTRADED Ultra Utilities(ProShr),16.87%
6,DBB,EXTRADED DB Base Metals(PowShr),16.68%
7,XME,EXTRADED Metals & Mining(SPDR),14.84%
8,FSESX,Fidelity Sel Energy Service/43,14.69%
9,ENPIX,ProFunds INV:UltraSector Oil and Gas,14.45%
10,ENPSX,ProFunds SER:UltraSector Oil and Gas,14.23%
11,IEZ,EXTRADED DJ US Oil Equip & Serv(iS),14.12%
12,TYG,CLOSED Tortoise Energy Infrastructure,13.76%
13,RYVIX,Rydex INV:Energy Services/241,13.33%
14,RYESX,Rydex Energy Services-A,13.28%
15,RYVAX,Rydex ADV:Energy Services/341,13.23%
16,RYVCX,Rydex Energy Services-C/841,13.14%
17,PXJ,EXTRADED Dyn Oil & Gas Services(PowShr),12.91%
18,UCR,EXTRADED MACROshares Oil Up(Claym),12.84%
19,SLX,EXTRADED Market Vector Steel(VanEk),12.83%
20,OIH,EXTRADED Oil Service(HLDRS),12.75%

DON'T CHASE RETURNS!!!!!!!!!!

Market sectors go in and out of favor. If you try to chase returns, you'll end up buying right as the sector goes out of favor.