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Wed: Buys OEX Sells SPY IWM MDY OIH

Primary Trades:

SPY IWM and MDY puts may be buys on market bounces. The market may be near the top of an intermediate-term range.

OIH may become volatile, before the oil inventory report, and has the potential to fall much greater than SPY in Feb.

OEX Feb calls can hedge puts, on a low market open.

Secondary Trades:

None.

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Primary Trade: An intermediate or long term trade. Timing can be off substantially. Volatility not a factor. Risk is low to moderate. Potential return is often moderate.

Secondary Trade: A short term trade. Timing must be accurate or volatility must be high. Risk is high. Potential return is high.

Secondary Trades should be generally avoided, although considered. Note: If Secondary Trades are taken, they may affect Primary Trades.