Markets are under slight pressure due to China raising interest rates for the 4th time & AAPL weighting is being reduced by Nasdaq in Nasdaq 100 / QQQQ from 20.49% to 12.33%....which forces selling due to rebalancing by HF & Institutions.AAPL rebalancing is effective May 2nd.
China is forced to increase interest rates as inflation is ticking up in Chinese retail & wholesale.
I expect markets to close GREEN....
Any weakness in pre-market & @ open should be bought.
BLOG does NOT give buy or sell.
Saleem
2 comments:
S
very nice commentary and summations
thanks
BIDU down
POT down
APPLE down $2 bucks--was going to buy some
thought better after all! Hmmmm
Regards to all
Hi C,
Thanks for your feedback.
AAPL was a sreaming buy in pre-market @ $331 ?
IF it goes to that level then buy or wait till May 2 PM when rebalancing is effective....
Saleem
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