About an hour into the session, and QQQQ is struggling, and seems to be failing at that support/resistance at $38.01; currently printing $37.95. All three major indices down and near the lows of the session.
Somehow, AAPL is selling off some. Seems like they try to push AAPL down sometime before earnings. It never seems to ramp up into earnings, despite their long record of beating consensus. Or, maybe it is selling off because of this news:
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Apple Computer: Sony to Debut Flash-Based Audio Players -- AP (AAPL) 42.75 : Hoping to regain some of its luster in a market dominated by the iPod, the company that brought us the Walkman is coming out with a big lineup of portable music players. In unveiling nine new players, Sony Corp. is taking particular aim at Apple Computer's (AAPL) slim new iPod Shuffle. That's because, like the Shuffle, the new Sony players use flash memory, a storage medium more durable, lightweight and compact than its larger-capacity cousin, the hard drive. The new Sony players also support the generic MP3 audio format, which is what most people use when converting their music CD collections to digital files. That's a major concession for Sony, which had tried until recently to persuade consumers to only use its proprietary audio format, called Atrac. The lineup includes a set of cigarette lighter-sized models, a bit more expensive than the iPod Shuffle but with a much longer advertised battery life -- 50 hours of playback time with a rechargeable battery compared to Apple's 12 hours. And unlike the Shuffle, the Sony players have bright, 3-line screens to display song information. A 512-megabyte model costs $130 and a 1-gigabyte model costs $180. Models with an FM tuner each cost $20 more. By comparison, Apple's shuffle is priced at $99 for 512 MB and $149 for 1 GB. The models will be available in May.
Whatever the reason..... buying opportunity here?
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