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Wed: Top Buys OEX WMT IMGN Top Sells TLT OIH MER QLGC CME

The market fell sharply on rising bond and oil prices, and fell further on earnings in afterhours. SPX may hold 1,275 short-term. So, OEX Jan 575 calls may be a buy for a short-term trade. WMT has pulled-back from over 50, and it's fundamentally undervalued. IMGN is a high quality biotech, although small biotechs are risky. TLT may pullback at least 1/2 point. Also, TLT has been moving opposite the stock market and can be used to hedge. OIH sometimes moves opposite SPX, and remains relatively overvalued. If the market falls sharply, OIH should also fall. MER and QLGC may fall on earnings (and net bearish spreads or straddles may be used). CME has the potential to fall sharply. However, longer-term puts may be best.