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Before The Bell: Out of iPhones; IMF Sees Global Slowdown

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Is Apple about to release a new model of its phone?

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Morning Perspective: Out of iPhones

Bloomberg reports analysts at research firm Piper Jaffray say that Apple's (AAPL) retail stores are running out of iPhones. Out of 180 stores in the U.S., 20 of them have no iPhones, analyst Gene Munster said. A spokesman for Apple said the company is working hard to quickly replenish the phones, but others take the short supply as a hint the company is on the verge of introducing a new, faster third-generation model. Munster believes the company may offer as many as three models of the iPhone by next January in an effort to appeal to a broad range of customers similar to its strategy with its iPod. Professor Quint Tatro recently mentioned Apple in Trading Between the Lines.

From the Bull Pen: Those bullish on Apple (AAPL) can play the upside with sell-stops below $140. Another option is the Technology fund (XLK); sell-stops below $22.60.

From the Bear Cave: Bears expect Apple to continue eating up market share from other companies like Motorola (MOT); buy-stops can be set above $10.00.

IMF Sees Global Slowdown

According to Bloomberg, the International Monetary Fund cut its projections for global growth and said there is a 25% chance of a world recession. The Washington-based lender, citing the worst financial crisis in the U.S. since the Great Depression, said the world economy will grow 3.7% this year, down from its previous projections of 4.1% last January and 5.2% last July. Projections for the U.S. and European economies were also cut. The fund said it expected U.S. economic growth of 0.5%, a full percentage point below its prediction in January, and 1.3% expansion in the euro region, down from its January forecast of 1.6%. Get Todd's perspective in yesterday's Answers I Really Wanna Know: How Will Markets Transition Into 2Q?

From the Bull Pen: Bulls are playing the consumer nondurables in this environment. Campbell Soup (CPB) is an option; sell-stops below $34.

From the Bear Cave: Bears can attempt a downside play in industrial manufacturer Dover (DOV); buy-stops above $45.

For more ideas, see Minyanville's Spotlight Stocks.

Quick Check Around the World

Asian trading closed with the Hang Seng +3.18%, Nikkei +4.21%, Sensex +0.79%, Taiwan +2.20% and Shanghai +0.56%.

A quick check across the pond finds the CAC +0.85%, DAX +1.07%, FTSE +0.74%

As of 8:30 AM EST, S&P futures are higher +5.30 to 1375, and Nasdaq futures are up +10 points to 1868.

A Look At Commodities

Commodities are higher +0.62 to 101.60. Gold is up +9.40 to 892.30. Silver is up +0.120 to 17.010, and copper is unchanged at 382.60.

The dollar index is lower -0.230 to 72.334.

On the Radar

Economics

ADB Employment Change: 8 k vs. -45 k cons.
MBA Mortgage Applications: -28.7% vs. 48.1% prior

Click here for the full trading radar.

Happy Hump! Good luck, Minyans!
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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