The unthinkable happened today! Apple shares fell over 2%. I am shocked!
What will happen to all the Hedge Funds who are charging their clients 2 and 20s. Almost every hedge fund or any fund for that matter is loaded with Apple stock. If there is a disappointment on Wednesday with the new IPad 3 release, the exit doors may prove to be too small.
News of the day was the reduction of growth forecast from China. Once again, I fail to understand the fascination of the commodity sector with everything Chinese. Don’t they know that every figure that comes out of China is made to order to please the politburo? How can anyone believe any number coming out of China in the 1st place and develop a trading strategy? Anyhow, the prices of copper, gold and silver fell along with equities. Nasdaq was the loss leader with 0.86% loss.