Dow down 160 points in mid day trading, but I have no doubt Apple is STRONG!

Dear Friends,

Today Dow proved to be weak again, down 160 points in mid day after its Pending home sales reported -5% when forecast is 0%. It is a BAD figure. The old Europe problem about Spain, Greece and Italy were brought up again. Tomorrow starts 2 days of Jam-packed economical reports from US, China and Europe.

2moro in US, we have Chicago PMI and ADP employment report which will no doubt start to shake the market. Whether 2moro direction is up or down, will depend on these 2 reports. It will also provide a curtain raiser to the important ISM and Non-farm payroll and unemployment rate on Friday!

Hence, I think it is better to stay on the sidelines and wait for the reports before any entry.

Btw, today Dow went down big. These few days I have been focusing on my beloved darling Apple again! Tonight, I have little doubt that Apple stock looks really strong. She did not go down much, just $1-2 down when whole market collapse.

Anytime these few days from now, she is about to break its $575 resistance. Let us get our cash ready!

I am waiting in fact for her to rev up the engines to go on Turbo power. But of course, if market is bad on Friday, this maiden flight will be delayed for a while.

Just watch tightly!!!

Rgds
Daniel

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