PeakTrader.com

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Fri: Top Buys OEX DOW Top Sells SPY IWM OEX SPX GOOG

Primary Trades:

SPX is being squeezed between the steeply rising 10-day MA, which will rise above 1,300 tomorrow, and major resistance levels between 1,305 and 1,316. Consequently, SPY and IWM May or Jun 130 puts are buys on market bounces.

Secondary Trades:

The following are more risky trades:

DOW Apr 40 calls can be used to partially hedge puts.

OEX Apr 590 calls may be a buy at SPX 1,300 tomorrow with a stop loss at 1,298 (EBAY was removed, because it rose in afterhours with GOOG).

OEX Apr 595 puts or SPX Apr 1,300 puts may be buys at SPX 1,305.

GOOG was added to the S&P 500 and rose 32 points in afterhours above 373. If GOOG opens above 380, Apr puts may be a buy for a quick trade.

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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.