FedEx is blaming mother nature and high fuel cost on the guide down but it is already bouncing afterhours with support around 91 to 92. Not sure how healthy it is to continue to grind higher on an extended market, but we had 4 straight gap down openings. Despite the weak after hour, another gap down on a big pomo day will likely get scooped up, barring any catastrophic news. If we some how manages to gap up, we may be looking at a fade on an extended market, but we always have to be on the look out for a post lunch bounce.
On a side note, check out this new Morgan Stanley projections on the tablet market.
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