Stocks Lower into Final Hour on Economic Growth Worries and Profit-taking

BOTTOM LINE: The Portfolio is slightly higher into the final hour on gains in my Medical longs, Retail longs and Commodity shorts. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is negative as the advance/decline line is lower, most sectors are falling and volume is above average. This morning, Citigroup reiterated that Apple Computer (AAPL) is its top computer hardware pick and its price target of $80. The firm said that the backdating issue will not affect recent or future earnings. It would only affect 1997-2001. Thus, the stock's valuation should not be at risk. Citigroup views the likelihood of Steve Jobs leaving or the stock being de-listed as remote possibilities.I agree with Citigroup's assessment and view today's sell-off as another buying opportunity before multiple significant catalysts over the next year. I remain long Apple(AAPL). I expect US stocks to trade modestly higher into the close from current levels on short-covering, lower long-term rates, lower energy prices and bargain-hunting.