Thursday 16 February 2012

U.S. stocks hit by Fed minutes, Greece, Apple Sharp Fall

Dear Friends,

Yesterday, U.S. stocks ended solidly lower Wednesday after minutes from the latest Federal Reserve meeting nipped hopes for more quantitative easing and amid uncertainty over Greece.Plus by mid noon yesterday, the BIG juggernaut APPLE falls big time from $526 to $500 within minutes.

It certainly shake the whole market. I feel that Apple has run its course, and badly needs a rest. Ever since our last article recommending Apple, it has run from a after earnings price of $450 to $525 within a few days.

Now STI because of last night Dow 97 points fall, is back within 3000 points. As I have mentioned, there isn't any economical report or good news that really provides a boost for Dow to breakthough 12938. Not the badly missed Retail Sales on Tuesday which is below expectations. Until it does so, we should be cautious and good to be on the sidelines.

Hence no recommedation now at this moment.... Let us be PATIENT!

Daniel Loh

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