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Non-Tech : FedEx (FDX)
FDX 267.55+5.4%3:59 PM EST
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To: RangeRover who wrote (171)8/12/1998 1:40:00 AM
From: Toby Zidle  Read Replies (2) of 524
 
Stockman8, that ValueLine report you quoted was from June 19. The price then was $62. In the latest (August 7) index, all the ratings and projections are exactly the same as seven weeks earlier, and the price shown was also $62. Today's close was $55, down 11% in a few days.

Though I tend to think the reason for FDX weakness is indeed the Asian economic picture, I find it interesting that for seven weeks no one was paying any attention to ValueLine's warning. In fact, the interim high between then and now was over $67, and the price drop was actually 18%,

This note is not intended as a criticism of your message, Stockman (except possibly that you inferred the VL report was more current than it actually is); its intent is more to indicate that ValueLine's opinions (contrary to the VL ads) no longer move the market. Though the analysis may be right, who's paying attention (when the content is fresh)?
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