More on Texas Instruments....

Texas Instruments Forecasts Solid Outlook.

Mobile-phone chipmaker Texas Instruments (TXN, -1.4% day; +1.5% A.H.) also reported after the bell, announcing a 13% increase in profits and a forecast for the current quarter that beat analysts' expectations.

More on Apple.....

Apple Drops in After Hours. Apple (AAPL, -3.5% day; -10.0% A.H.) announced after the bell that profits increased 57%, but provided a forecast that disappointed analysts.

Though the company is very susceptible to a consumer slowdown, it should also be noted that the company has issued forecasts that have missed seven out of the last eight quarters, but has beaten analysts' expectations every quarter the last three years.

Texas Instruments Beats Estimates....

TXN trying to lift market but Apple pulling it lower.

TXN trading up 1 point to $29.90 in aftermarket.

Apple Beats Q1 Estimates but Warns for Q2....

Apple posts earnings of $1.76 a share vs. $1.62 estimate, however, they lower guidance for Q2 to $.94 from $1.08.

Apple is down 14 points in aftermarket to $141.00

That's after a 5 point loss in today's trading...

Hopefully Conference Call will ease fears a bit.

Decent Close.....

Dow - 127
S&P - 14
Nasdaq - 48

Not a bad close considering where we started the day. Now waiting on Apple and Texas Instruments earnings.

3:30 Update....

Dow - 45
S&P - 5
Nasdaq - 35

Looks like we have a chance to close positive...believe it or not. If we do...that is UGE...with no "H".

We still would be very dependent on earnings after the bell from Apple and Texas Instruments.

Two Hours to Go....

Dow -170
S&P - 21
Nasdaq - 52

This is an important last two hours of trading. As we said earlier, there will be some downward pressure from possible Margin Calls until around 2:30 pm.

After that, it's going to be a battle between Bulls and Bears. Any improvement from where we are right now, would be positive. A higher close could mark the end of the selloff.