Replies to post #10321 on DayTrading QQQ Swings (QQQ)

[blasher]

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.

[blasher]

Stocks rallied yesterday after the European Central Bank signaled its intention to preserve the euro. Bond yields in Spain and Italy fell back under 7%. The National Association of Realtors reported its index of pending home resales fell 1.4% in June. Jobless claims declined more than expected last week, down 35,000 to 353,000. Orders for durable goods rising for a second month, up 1.6% in June. Telecoms led gains that included all of its 10 sectors. Sprint Nextel surged 20% after the co. reported increased spending by customers on data plans. Zynga dove 37.5% after disappointing quarterly results. Facebook dropped 8.5% ahead of quarterly report after the close. Akamai Technologies and Western Digital soared 24.0% and 20.9% after better-than-expected results and solid guidances. After the closing bell Facebook dropped 9.6% after the co. reported earnings in line with expectations but issued no forecast. Starbucks slid 11% after the co. issued soft forecast, citing weak consumer spending in Europe and higher commodity costs. Amazon.com gained 1.6% after the online retailer forecast a third-quarter operating loss of between $50 million and $350 million and revenue of $12.9 billion to $14.3 billion. Implied volatility inched lower on moderate trading volumes.