This just in: the Dow Jones Industrial Average plunged more than 230 points today, pushing the blue-chip barometer below the 11,150 level that seemed to have provided short-term support during the past several sessions. Pacing the Dow's decline, Research in Motion Limited (RIMM: sentiment, chart, options) gave up about 3.7% today, as rumors on the Street are hinting that the company's iPhone-killer, the Blackberry Thunder, is nowhere near entering production. Yes, I know RIMM is not a Dow member, but what day is complete without diving into the hype of the smartphone market?

Plus, I found this nifty blog entry on BoyGeniusReport.com that states that "Thunder is in no way, shape, or form market-ready. If Bold was any indication, Thunder won't be ready for at least another 4-5 months." But that's not the most damning report from BGR's informants. The blog also reports that "RIM implemented a touch-and-drag approach which is the only way to select on screen buttons at this point. ... and to quote him [said informant], 'Most of the people who have handled it think it's a joke.'"

Harsh words for the device that is supposed to be RIMM's answer to the iPhone. Luckily, the company has yet to set an official release date, giving them more time to work out the kinks. However, Wall Street was, until today, expecting the device to hit the market late in the third quarter. Sentiment among investors is already dubious, with heavy put open interest in the options pits and more than 4% of the stock's float sold short. But analysts have doled out 18 "buy" or better ratings, 7 "holds," and no "sell" ratings.

Could today's rumors or an official delay from RIMM spark a downgrade or 2? If so, the stock has little room for a correction, with key long-term support from its 10-month moving average hovering in the 115 region. The stock closed today just above this region at $117.54 per share. I'll be sure to keep this one on my radar.