It is possible for a reaction to be both stereoselective and stereospecific.
For example, the Shi epoxidation is stereospecific in the sense that both new bonds to oxygen will be syn-to each other (due to the concertedness that Hollytara decsribed), and as a result the (E)-alkene gives the trans epoxide and the (Z) gives the cis. However, the preference for the formation of one enantiomer or the other is an example of stereoselectivity.
You might say the reaction is diastereo-specific and enantio-selective.
- I havent added anything to what Hollytara has said, just worded it slightly differenty. To her go the spoils