PeakTrader.com

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Fri: Top Buys JBLU Top Sells OEX SPY IWM FDX Others FCX PD PCU

Primary Trades:

SPY Jun 132 puts and IWM Aug 77 puts on market bounces, since the market may be near an intermediate-term top.

Secondary Trades:

Calls: JBLU closed at another all-time low and reports earnings Tue. Jun 10 calls may be bought at 0.55.

Puts: OEX Apr 600 puts above 595 for quick trades, although volatility may fall tomorrow afternoon. FDX May 120 puts at 116, because volatility may pick-up over the next few weeks.

Others: If FCX PD or PCU bounce two points each tomorrow, those may be opportunities to buy May or later puts.

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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.