It’s raining money

Major indices are in the green again today after hitting all-time highs on Wednesday. For those who prefer cryptocurrency, the news is even better, as the Royal Bank of Canada (RBC) just released a report forecasting that blockchains worldwide could grow in value to $10 trillion. That’s more than 40 times its current size. It seems that all investors really need to do is tilt back their heads and stick out their tongues. Don’t forget, when things are suddenly perfect like this, they always always remain perfect forever.

At present, the S&P 500 is up 0.45%, the DJIA is up 0.57 %, and the NASDAQ is up 0.24%. West Texas Intermediate crude is trading at $61.66. Bitcoin is at $14,667 on Bitstamp.

Industries doing well today include automobiles, consumer finance, and banks. Industries showing weakness include multiline retail, biotechnology, and semiconductors. The VIX is down 2.1% to 8.96 after closing on Wednesday at 9.15. The most heavily traded options this morning are for the S&P 500 SPDR ETF (SPY), with 15,203 January-19 265 calls on the board. The total put/call ratio as of 10:00 AM was 0.62 (540,791/333,463). The advancers/decliners ratio for NYSE stocks is 1,677/1,159 while the advancers/decliners ratio for NASDAQ stocks is 1,590/1,183.

Symbols: RBC SPY
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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