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Non-Tech : FedEx (FDX) -- Ignore unavailable to you. Want to Upgrade?

To: Darryl Olson who wrote (203)	9/28/1998 4:17:00 PM
From: Tony D.	Respond to of 524

My feeling is that FDX may be stuck in a trading range (46 - 52) until some external event breaks it free - hopefully to the upside. I recently bought in for the following reasons: 1. Dominant position in the overnight delivery market. 2. P/E ratio near its historical low - current 12 vs. 11 historical. 3. While the Asian situation has taken its toll, FDX seems to have offset a large portion of the decline in business through cost cutting and other businesses (North America). 4. Mid to long term, FDX is further positioning themselves for new acquisition WHEN appropriate. I think FDX may have made its lows around 45.75 but there is still a lot of risk in the stock. The appealing part is that the potential rewards seems greater. Good Luck, Tony D.