After the open… Major indices closed at record highs again on Wednesday, and the market's continuing rise is once again scaring the bears out of their holes. Today, many are asking when a bull market has ever gone on so long without leading to a substantial correction. Fewer are thinking to ask when a stock market crash has ever occurred after a 50% drop in the price of oil, amid falling unemployment and rising wages across the entire spectrum.
Stocks are marginally lower this morning, but the trend this week has been for indices to cross from green to red and back again multiple times. TASER (TASR) posted lower than expected earnings this morning, society having failed to collapse into anarchy yet again. If the bears are right, there's always hope for next time.
At present, stocks are down. The S&P 500 is down 0.33%, and the DJIA is down 0.21%.
Here are your Thursday morning market metrics. Industries doing well today include Independent Power and Renewable Electricity Producers, Internet Software and Services and Software. Industries showing weakness include Oil, Gas & Consumable Fuels, Energy Equipment & Services and Building Products.
The VIX is up 0.36% to 13.89 after closing yesterday at 13.84. The most active strikes are Cisco Systems, Inc. (CSCO), with 20,475 April 30 calls changing hands. The total put-call volume ratio is 1.00 (212,207/212,548). NYSE Adv/Dec 1,238/1,531. Nasdaq Adv/Dec 1,136/1,017.
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.