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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (53591)	9/21/2004 10:13:20 PM
From: Seeker of Truth	Respond to of 74559

Jay, you ARE a hero, but the same thing, i.e. NAV up 1 % also happened to me, a non-hero. At some point it's highly likely that oil/gas prices will sharply and extensively decline. Not because this has always happened in the past but because human beings influence each other and therefore cause any commodity to be overpriced and then underpriced. So some of these juicy gains will have to be given back. Meanwhile the part of the dividends remaining after taxes piles up.

To: TobagoJack who wrote (53591)	9/21/2004 10:14:51 PM
From: Condor	Read Replies (1) \| Respond to of 74559

Some talking head today on ROBTV commented that "the prospects that we are hearing of the Canadian dollar going to .80 or .85 ,if nothing else, suggest the CDN dollar will hold for some time going forward vs. the US dollar". Jay, one thing I am confident of is that "nobody knows". Inevitably all forecasts for the CDN dollar direction that I have heard over the last 15 years have mostly been wrong. If it reaches .785 I'll trade another tranche or brigadoon or whatever it is that you call it. <gg> I asked the other day on this thread for opinions on the level of the S&P 500 next June. No one bit. Care to make a wild guess ? Cheers C

To: TobagoJack who wrote (53591)	9/22/2004 5:17:59 PM
From: AC Flyer	Respond to of 74559

Fedex's Net Income Surges Amid Economic Recovery By Rick Brooks Staff Reporter of The Wall Street Journal FedEx Corp., lifted by strong gains in shipment volume across almost all its delivery businesses as the economic recovery reaches more of its customers, reported that its profit more than doubled in the fiscal first quarter. Frederick W. Smith, chairman, president and chief executive of the Memphis, Tenn., company, said that the global economy "is expanding steadily," particularly in the manufacturing and industrial sectors. The latest results are evidence that more businesses around the world are revving up their operations and replenishing inventories depleted during the economic slump. FedEx's average load of 5.5 million packages a day for its fiscal quarter ended Aug. 31 was up 6.4% from a year earlier, close to the 6.9% increase in FedEx's package volume during its fiscal fourth quarter. While air shipments in the U.S. continued to be hurt by a shift toward cheaper ground deliveries, deliveries outside the U.S. climbed 13%, including a 52% surge in export shipments from China. As a result, FedEx's net income reached $330 million, or $1.08 cents a share, in the latest quarter, up from $128 million, or 42 cents a share, a year earlier. Revenue grew 23% to $6.98 billion. Last year's first quarter included costs of about $132 million, or 27 cents a share, related to the decision by about 3,600 of the air unit's 137,000 employees to quit or retire early in exchange for cash or sweetened pension and health-care benefits. FedEx also got a year-earlier boost of eight cents a share from a court ruling in its favor over the treatment of jet-engine maintenance costs. The surge on FedEx's bottom line matched an upbeat forecast it issued last month. FedEx stuck to its projection Wednesday of a profit of $4.40 to $4.60 a share for its current fiscal year, and its expected profit of $1.10 to $1.20 a share in the current quarter is in line with the average estimate of $1.15 a share from analysts surveyed by Thomson First Call. At FedEx's trucking operation, which consolidates loads of several customers at a time on trailers, shipment volume in the fiscal first quarter grew by its biggest percentage since FedEx began reporting that unit's results in 2001. Ground-delivery volume increased to 2.5 million packages a day, up nearly 16% from a year earlier. Write to Rick Brooks at rick.brooks@wsj.com Copyright © 2004 Dow Jones & Company, Inc. All Rights Reserved.