Today's complete market SLUMP can be attributed to AHM collapse & comments by Fed official saying mid-day that...Fed will not intervene to solve sub-prime woes......
The sad part was that NOBODY expected fed to do anything about sub-prime....the comment gave the impression as if fed was going to do something about it and now...has changed its mind .....
With all of the above...markets went from "oversold to WASHED -OUT"......
So we start all over again on wed...hoping nobody from Fed will say something which will tank the markets AGAIN......
AH SIRF is down $2 on lower rev......
FSLR down $16 on below whisper numbers.....
NVT is flying HIGH Up $4...on good ER......
AAPL tanked on rumour of less iphone being built...from 9 million to 4.5 million units...denied AH.....tanked almost $10.......
SNDK went down almost $3 on the same AAPL rumour as it will ease supply issue of FLASH Memory.........
My portfolio went down 2.17%......
Markets "remain JITTERY"....
Good luck for wed...GRMN reports before open.....it will be a very good report....
BLOG does not give buy or sell.
Saleem
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