Sword Of The Lord With Electronic Edge

Thursday, June 23, 2011

US Stocks Tumble, Dow Sinks 200; Vix Jumps - CNBC

US Stocks Tumble, Dow Sinks 200; Vix Jumps - CNBC: "'Today may turn out to be the bloodiest day for equities since this so-called recovery began,' said Todd Schoenberger, managing director of LandColt Trading. 'The Chairman's 'aw, shucks' responses yesterday, along with the Administration keeping their heads in the ground regarding an economy stuck in quicksand, just isn't sitting well with Wall Street folks.'

Fed chairman Ben Bernanke acknowledged that the pace of the economic recovery is slower than expected on Wednesday, but offered no hint about plans for new stimulus measures.

'Everyone's watching the 200-day moving average, which is approximately 1,262,' Dave Rovelli, managing director of equity trading at Canaccord Genuity told CNBC. 'I would wait to see if we test that.'"

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