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Wed: Top Buys None Top Sells SPY OEX IWM

Primary Trades:

If SPX can rally 35 points in a week, it can fall over 50 points in a month. The SPY Apr 130 and 129 puts remain top buys.

Secondary Trades:

OEX Mar 595 puts may be a buy on a market bounce, because there's been little volatility this triple witching week and a lack of selling. OEX closed at 591 3/4.

IWM closed at about 74 and the Apr 73 puts may be a buy (on rising interest rates over the next month). Also, the Mar 74 puts may be a short-term trade, because IWM may fall to 73 Thu or Fri.

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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.