DayTrading QQQ Swings (QQQ)

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Stocks trimmed losses yesterday to close mixed after minutes from the FOMC’s latest meeting showed that the central bank is leaning toward taking measures to stimulate the economy. Also, sales of existing homes rose 2.3% in July, in line with expectations, illustrating an increase in activity in the housing market. Among global news, Japan's trade deficit in July was wider than expected at ¥517.4 billion ($6.5 billion), as Europe's debt crisis and slower growth in China pressured the country's exports. Dell slid 5.4% after reducing its profit forecast for the year. EBay rose 2.5% after the company’s PayPal payments business announced a deal with Discover Financial Services to bring PayPal access to businesses that take Discover credit cards. Zynga rose 9.8% after JMP Securities initiated coverage of co. with an outperform rating and $4.50-a-share price target. In the evening trade Hewlett-Packard was down 0.2% after the co. swung to a fiscal third-quarter net loss of $4.49 a share. Implied volatility inched higher on light trading volumes.
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