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NASDAQ in free-fall, Dow relatively calm

Tech stocks began the week in a steep dive, continuing the trend that began on Friday. NVDIA (NVDA) is down 4.4% today, Facebook (FB) is down 2.3% and Amazon.com (AMZN) is down 2.9%. Even so, a great many old-economy stocks are holding up quite well today. GE (GE) in particular is up 4.7% after announcing a change in leadership, with Immelt stepping down from the CEO position. Even beleaguered US Steel (X) is up 2.8%.

West Texas Intermediate crude is trading at $46.42. At present, the S&P 500 is down 0.44%, the DJIA is down 0.34%, and the NASDAQ is down 1.46%.

Here are your Monday morning market metrics. Industries doing well today include industrial conglomerates, multiline retail, and trading companies. Industries showing weakness include technology hardware, internet/catalog retail, and internet software. The VIX is up 9% to 11.67 after closing on Friday at 10.7. The most heavily traded options this morning are for the Financial Select Sector SPDR ETF (XLF), with 10,030 June 24 calls on the board. The total put/call ratio as of 10:00 AM was 0.89 (442,122/392,876). The advancers/decliners ratio for the NYSE is 1,586/1,257 and for the NASDAQ, 1,236/1,462.

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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.