Dow Jones Open 12/17/08 - Stock Market

This more, the Dow Jones and Stock Market's are opening lower. Technology is getting hit because of Apple ( AAPL ) withdrawing from Macworld starting in 2010. This has investors fearing the health of Steve Jobs once again. Steve Jobs will not be giving the keynote address at this years Macworld. Apple has shown strong support around the $89 level in the past month so I am starting a small position Apple has 25 billion of cash sitting in the bank and while growth is slowing, they have one of the best businesses in the world. Not much downside from here. Apple also has some nice support at $85.

First Solar ( FSLR ) is a stock breaking out with nice volume this morning...keep an eye on ENER as well.

Stock Market Opening Prices December 17, 2008

Dow Jones Open - Down 105
Nasdaq Open - Down 22
S&P 500 Open - Down 13

Today's Biggest Gainers 12/17/08

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AAPL Steve Jobs Blames Hedge Fund

Steve Jobs has come out an blamed a Hedge Funds for spreading rumors about his health. He blames this fund or funds for bashing his health as a way to get Apple's ( AAPL ) stock price down.

Hedge Funds short Apple ( AAPL ) stock make money when the stock price falls vs when they go long a stock and make money when the the rises.

Apple AAPL Earnings Steve Jobs

Where was Steve jobs on the Conference Call? Hes never really on a conference call....but an analyst asked if there was anything wrong with Steve Jobs health and the CFO said Steve Jobs health is a private matter.

A private matter? He is the face of the company.....he is the Warren Buffet of Apple.

Apple stock is plunging afterhours to $148. I have in my technical chart from the weekend that there is support at $145......but given the plunge....I'm waiting this one out!