Replies to post #10329 on DayTrading QQQ Swings (QQQ)

[blasher]

Stocks finishing the day barely changed yesterday, trimming early gains following a report that Greece was looking for a two-year extension to implement austerity programs. Ahead of the bell, sales at U.S. retailers increased 0.8% in July, breaking a string of three straight monthly declines, topping expectations for 0.2% growth. Sales excluding autos and gasoline rose 0.9%. Producer prices also beat estimates, increasing 0.3%. Business inventories rose 0.1% in June, slightly slower than the 0.2% rise were looking for. In Europe, data showed that the German economy grew 0.3% on a seasonally-adjusted basis in the second quarter, beating forecasts of a 0.2% rise. French gross domestic product was unchanged in the second quarter, which was better than economists’ expectations of a 0.1% decline. Home Depot gained 3.58% after the co. reported higher fiscal second-quarter results. Groupon fell 27% after the co. issued a disappointing third-quarter forecast due to concerns over the economic situation in Europe. In the evening trade JDS Uniphase popped up 5.1% following the solid earnings and guidance.

[blasher]

Stocks advanced slightly yesterday on light volume on mixed economic reports. The Federal Reserve Bank of New York said its manufacturing index dropped to negative 5.9 in August, the first negative reading since October. Industrial production rose 0.6% in July, in line with analyst expectations. The National Association of Home Builders' Housing Market Index rose to 37 in August from 35 the prior month. New York Attorney General sent subpoenas to major banks as part of a probe into the manipulation of Libor. Merck and Intel led the blue-chip barometer lower, both falling about 0.8%. JDS Uniphase jumped 8.2%, a day after the co. reported better-than-expected quarterly results. Networking companies also posted gains, getting a boost from remarks by AT&T Chief Financial Officer who reiterated the company’s forecast for capital spending “in the $20 billion range” this year. Cisco Systems closed up 1.1% ahead of its release of fourth-quarter results after the bell. Shares added another 5% after hours after the co. topped analysts’ estimates. Implied volatility inched lower on modest trading volumes.
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