I have a PSE StingerX that I purchased new in May.  It has shot maybe 100 arrows.  I have waxed it twice, but it still looks like it is fraying in a couple places; minor, but it is.  I know this isn't the greatest bow, but should I see fraying this early in the strings life?

It has always been stored indoors out of the elements.  I rubbed the wax in with my fingers as best as possible.  Seems to be the worst right around the string guide.

That's normal on cheaper strings. PSE doesn't use the best strings as it is an inexpensive bow. Higher quality strings will fray less, and you will see this on almost every bow and crossbow. The better the strings, the less they fray. I have noticed that my Quest G5 bow's strings are much better than the PSE Brute X.

Personally, given that wax is cheap, I wax all strings and cables after every shoot. If you wait for fraying, it's a lot harder to stop.

Note also that a higher draw weight will contribute to reduced string life.

Thanks.  I figure I will keep an eye on it and replace as needed.