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Tue: Top Buys GM Top Sells SPY IWM DIA

Primary Trades:

SPY closed at 128 1/4 and Apr puts may be a buy around 128 3/4.

IWM closed above 72 1/2 and Apr puts may be a buy about 73.

Secondary Trades:

GM may rise into the Auto & Truck Sales report at 12 ET. Also, a GM board meeting Mon about GMAC may lift GM this week, and perhaps next week. Apr 20 or 22.5 calls may be safe short-term trades.

DIA closed below 110 and Apr puts may be a buy about 110 1/2. DIA may fall to at least 108 in Mar.

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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.