Cooling off period

After the open… Weeks like last week are rare in the entire history of the market, so even though we remain about 2.5% below all-time highs, there is absolutely no reason to be surprised that the market would take a breather this Monday. The real direction for the week won’t be determined until we see some more earnings and economic reports. Despite the fact that low priced oil will be net-beneficial as far as the market is concerned, its rapid fall and the ensuing shake-up in world energy markets is continuing to create volatility. Wise investors will see the opportunity here. The S&P 500 is down 0.35%, with energy issues truly taking a pounding.

Here are your Monday morning market metrics. Industries doing well today Household Products, Healthcare Technology and Diversified Telecommunication. Industries showing weakness include Energy Equipment, Containers & Packaging and Oil/Gas & Consumables.

The VIX is down 9.6% to 16.36 after closing on Friday at 16.11. The most active option strike this morning is Petrobras (PBR), with 67,779 November 20 calls and another 67,180 November 22 calls changing hands. The put-call volume ratio is 1.3, (278,576/362,576). NYSE Adv/Dec 594/2,299. Nasdaq Adv/Dec 497/1,819. 

Julian Close has been a business writer since the first day of the twenty-first century, having written for PRA International and the United Nations Department of Peacekeeping. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. He became a stockbroker in 1993, but now works for Fresh Brewed Media and uses his powers only for good. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.

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.

You May Also Like