The Peter Ships Show.

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The rally in US stocks continued on this Wednesday.

In fact, the Dow closed up just over 300 points today.

That's almost a 1% gain.

But the rise was even larger in the Nasdaq.

That index moving up just over 2% and an even bigger rise in the more speculative names

in the Nasdaq.

The Kathy Wood arc innovation ETF.

That was up over 5% today.

For getting a rally in those momentum names, they were down quite a bit, although not

nearly as much as they're ultimately going to be down.

But the drop has already been large enough for some people to make the mistake of thinking

they're getting a bargain because they're comparing the recent price to the record high.

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