The stock markets provided a disappointing day today with the Dow Jones Industrial average down 143.39 points with a loss of over 1.07 percent for the day and the NASDAQ down over 24 points with a loss of almost 1 percent for the day. News on terrible pending home sales and little confidence in a Fed rate cut spurred on the losses. News of Apple reducing the price of the iPhone price significantly to $399 and an updated iPod fell on death ears with Apple Inc (AAPL) loosing over 5 percent today. Come on people the new iPod has Wi-Fi built in for goodness sake. Investors seemed to interpret this to mean weak demand for the iPhone. One wonders if Apple Inc should not have followed Sony’s lead in the Play Station 3 and kept prices steady for as long as and longer than humanly possible. All of my other holdings were down for the day with a total daily loss of over 1.3 percent.

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