DayTrading QQQ Swings (QQQ)

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Stocks closed mixed yesterday after the Federal Reserve extended Operation Twist programs but stopped short of announcing a more aggressive bond buying policy. Also, the Fed cut its economic growth forecasts to a range of 1.9% to 2.4% from 2.4%-2.9% in April and raised its forecast for the unemployment rate. Tech stocks managed to put in a mostly upbeat performance, with Microsoft taking the stage for the second time this week, this time to show off features of its coming Windows Phone 8 release. Applied Materials rose more than 3% after the co. named Gary Dickerson as its new president. Adobe Systems gave up 2.7% a day after the co. reported second-quarter results that exceeded the estimates, but gave a disappointing third-quarter forecast. Declines also came from Apple, Netflix, IBM and Google. Implied volatility inched lower on modest trading volumes.