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Stocks flat as traders head home

Major indices are largely unchanged this Wednesday morning as traders prepare for the Thanksgiving holiday tomorrow. Global oil prices rallied overnight, just in time for the busiest driving days of the year. GameStop (GME) is up 8.3% after reporting better than expected third quarter numbers, while HPQ and HPE are lower following news that Meg Whitman would be leaving Hewlett Packard.

West Texas Intermediate crude is trading at $57.64. At present, the S&P 500 is flat, the DJIA is down 0.07%, and the NASDAQ is up 0.02%.

Industries doing well today include diversified consumer services, trading companies, and energy equipment. Industries showing weakness include electronic equipment, independent power, and semiconductors. The VIX is down 2.5% to 9.47 after closing on Tuesday at 9.73. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 10,005 December-29 255 puts and 10,000 December-29 243 puts on the board. The total put/call ratio as of 10:00 AM was 0.6 (414,085/247,295). The advancers/decliners ratio for NYSE stocks is 1,819/939 while the advancers/decliners ratio for NASDAQ stocks is 1,701/959.

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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.