If all of your bearings are formatted as quadrant bearing with an "N" or "S" as the first character, why not use a string function as part of your query? You can query the first character of the field and if it contains an "N" or "S" then put it in the selected set. Invert the selected set for the distances.
Your 'Select by attributes' query would look something like:
SUBSTRING( Text,1,1) = 'N' (or maybe you need/want to use RefName...)
This is basically "select out of this field, starting at character x, the next y characters")
Use the OR connector to build the query out to include the "S" bearings.