Big bounce after rare dip

Major indices are in the green this Wednesday morning, bouncing after a rare dip that lasted for two whole sessions. The price of oil is on the rebound as well, but not much changed from 24 hours ago. Seemingly immune from market fluctuations, as well as almost everything else, NVIDIA (NVDA) is up 2% on the day and a gobsmacking 20% ytd. Amazon.com (AMZN) is apparently made of similar stuff, up 1.37% on the day and 23% ytd.

At present, the S&P 500 is up 0.32%, the DJIA is up 0.68%, and the NASDAQ is up 0.45%. West Texas Intermediate crude is trading at $64.39. Bitcoin is at $9,954 on Bitstamp.

Industries doing well today include aerospace & defense, airlines, and life sciences tools. Industries showing weakness include construction materials, communications equipment, and pharmaceuticals. The VIX is down 5.2% to 14 after closing on Tuesday at 14.79. The most heavily traded options this morning are for the PowerShares QQQ ETF (QQQ), with 10,025 February-2 173 calls on the board. The total put/call ratio as of 10:00 AM was 1.06 (374,584/395,607). The advancers/decliners ratio for NYSE stocks is 1,901/969 while the advancers/decliners ratio for NASDAQ stocks is 1,565/1,2015.

Symbols: AMZN NVDA QQQ
Julian Close

Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.

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