Home loan applications have risen the third week in a row now that we have lower interest rates.  Not quite a sustained pattern yet, but something that could be very positive for our stock picks if it turns into a pattern.  Remember though, this is just a metric which measures home loan applications;  we do not know how many of these applications will be turned into loans given the tighter lending conditions of all financial institutions.

In other portfolio news, it is a sad day.  Our favorite position has been sold for a 10% gain, Apple.  The market is irrationally taking this one down to the basement, no telling how low.  Once it settles, we will be buying back in.  This is one stock pick we said we would never sell.  Long term, we really have not, this is just an example of how we actively manage our porfolio of stock picks.  We sometimes will go in and out of positions because of market irrationality.  Apple is a long term position however.

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