DayTrading QQQ Swings (QQQ)

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Stocks sank yesterday, following a report that Greece is still unable to pay off debts and will need to go through further restructuring. The big slide kicked off when Reuters reported that three EU officials believe Greece will have to restructure some 200 billion euros in debt. Also, Moody’s Investors Service late Monday cut its outlook on Germany’s triple-A credit rating to negative from stable. Meanwhile, an index from the Richmond Federal Reserve showed that manufacturing activity index fell 16 points to negative 17. Tech stocks extended losses with Cisco sliding 5.91% after the co. said it would cut 1,200 jobs. AT&T lost 2.12% after the co. said second-quarter profit rose more than 8%, though sales fell short of forecasts. In the evening trade Apple slid 5.1% as earnings fell short of the $10.35 a share analysts anticipated. Also, Apple said it shipped 26 million iPhones during the quarter, while analysts were expected more than 28 million units to be shipped. Netflix lost 14% on disappointing guidance, the co. also suggested it might not reach its targets for new subscribers to its Internet-based video streaming service. Implied volatility inched higher on moderate trading volumes.