Another morning, another sea of green. The NASDAQ in particular looks virtually guaranteed to make a lifetime high today. Who could have imagined such a thing just four months ago.
This is driven in part by Intel, which itself will be at a lifetime high.
You can easily imagine the emotional roller coaster than option sellers and option owners in NFLX have gone through since the close yesterday. For a short while, NFLX bears were dancing on the table. How shocked they will be to see that a disappointing shortfall in Netflix numbers is creating a big rally.
Just about the only stock showing any weakness is IBM, which in the late 1980s would have single-handedly brought the whole market down. I think people stopped caring about Big Blue a long, long time ago.