PeakTrader.com

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Thu: Top Buys OEX F PPH PFE WYE AMGN Top Sells CME GOOG FCX IWM

Primary Trades:

There are no primary trades. SPX may be in a downtrend over the next few months. SPY Jun 130 puts may be buys just below SPX 1,300.

Secondary Trades:

Calls: OEX Apr calls are buys on a low open. Extensive negative news is priced-into F. Many drug stocks pulled-back sharply over the past month. PPH PFE and WYE are at least relatively undervalued (if not fundamentally undervalued) drug stocks. AMGN may rise into earnings next week and it's near significant support.

Puts: CME is volatile and rose into the close (most likely on short-covering). GOOG has the potential to fall below 350 on earnings next week. FCX (also PD) are overvalued (with gold around 600). IWM May puts can be used to hedge OEX Apr calls, and may be buys above 75.

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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.