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To: The Ox who wrote (818)	4/24/2012 11:23:43 AM
From: The Ox	1 Recommendation Respond to of 8288

Profit taking in AAPL continues. Later today we'll find out if this was simply fear of losing a 50% gain in a few months or if there is serious cause for longer term concern. The AAPL chart since the recent high, less than 3 weeks prior to today, is butt ugly. Nothing like the short term back off in January, pre-earnings. I wouldn't be surprised by a blowout or a big miss this afternoon. If I was forced to guess, it would be a blowout and a huge gap up tomorrow. At the same time, this is the perfect season for a big miss and would setup even more fear for the "sell in may" cries. Much of the data here in the US is positive, albeit weakly so. I don't know anyone who has been expect robust economic numbers and if they have been, they are living in a fantasy world. Having said this, from my view, its not as bad as most of the media is making it out to be. Certainly here in Chicago, the mall parking lots are jammed all weekend long. Whether or not this is translating into strong sales is another issue all together. I find it a bit humorous how "negative" the media has become on China, pointing to slower growth numbers. That is exactly what the Chinese have been trying to manipulate, slow down their economy without derailing it. From my vantage point, they have been doing an excellent job. Double digit growth was unrealistic going forward but anything in the 7 to 9% range should work well for them. FWIW: Spent last week golfing in San Diego. I can highly recommend The Crossings at Carlsbad. A very nicely designed, well kept up course at a very reasonable price (especially if you find their bargain rates). Obviously, Torrey Pines is "THE" place if you can get a tee time. Unbelievably beautiful setting and one of the best cared for public courses . Worth a stop for a look, even if you're not a golfer, in my opinion. Picturesque!!