Market Action

Nasdaq dived 15 points in a volatile session.Apple came out with new Iphone but Steve Jobs announced price cuts for new phone.Apple also said it sold 6 million IPhone since debut of first version on June 29th 2007. Apple announced lot new features like GPS,mobileme (Like Microsoft Activesync)3G network support which is 3 times faster than Edge network in previous version.Apple showed weekness in its stock and it looks weak with market going forward.
Also Cramer announced Blackberry(RIMM) is much positioned than apple(AAPL) .