Schaeffer's Top Stock Picks for '25

Dow Jones Industrial Average Soars on Oil; S&P, Nasdaq Notch New Highs

2 Skyrocketing Chip Stocks That Could Have Room to Run

Nov 21, 2016 at 12:16 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) is trading higher as December-dated crude oil futures soar 3.4% to $47.22 per barrel, amid hopes of a production cut by the Organization of Petroleum Exporting Countries (OPEC). With energy stocks leading the way, the S&P 500 Index (SPX) is just off a record intraday high, as is the tech-rich Nasdaq Composite (COMP), while the Dow is within a chip-shot of its all-time best.

Continue reading for more on today's market -- and don't miss:

MMC 1121

Among the stocks with unusual volume at midday is retailer Burlington Stores Inc (NYSE:BURL), ahead of delivering earnings tomorrow morning. BURL is currently trading 2% lower at $76.42, with options crossing at eight times their average intraday rate, as calls lead puts 2,145 to 1,867. It looks like most of the action is attributable to a bearish ratio spread at the December 75 put and 85 call, according to data from the International Securities Exchange (ISE).

Cybersecurity firm Lifelock Inc (NYSE:LOCK) is among the top performers on the Nasdaq today, currently trading 15.5% higher at $23.97, after it was revealed that rival Symantec Corporation (NASDAQ:SYMC) will be purchasing the the company in a deal worth $24 per share, or $2.3 billion total. LOCK is currently up by over 66% so far in 2016, and earlier notched an all-time high of $23.98.

Shipping stock DryShips Inc (NASDAQ:DRYS) is among the worst performers on the Nasdaq today, currently down 14.6% at $10.09. It's been a very volatile post-election run for shipping stocks, with DRYS last week exploring a range of more than 90 points, and making a valiant run at its 200-day moving average. Today, the shares of DRYS initially rallied on word of an agreement with one of its lenders, but the stock has since pulled back with its sector peers.

DRYS 161121

The CBOE Volatility Index (VIX) is down 0.4%, or 0.1 point, at $12.80.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.10, with puts leading calls. At the last check, SPY was up 0.5%, or 1.10 points, at $219.60.

Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?

 

 

(function(doc, script) { var js, fjs = doc.getElementsByTagName(script)[0], frag = doc.createDocumentFragment(), add = function(url, id) { if (doc.getElementById(id)) {return;} js = doc.createElement(script); js.src = url; id && (js.id = id); frag.appendChild( js ); }; // Google+ button //add('https://apis.google.com/js/platform.js', async="defer"); // Facebook SDK add('//connect.facebook.net/en_US/all.js#xfbml=1&appId=772755279557744', 'facebook-jssdk'); // Twitter SDK //add('//platform.twitter.com/widgets.js', charset='utf-8'); fjs.parentNode.insertBefore(frag, fjs); }(document, 'script'));