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Tue: Top Buys GM Top Sells SPY; Others to Watch: HAL OIH

Primary Trades:

SPY Apr 130 or 129 puts are a buy on a half point SPY bounce to about 128 3/4. SPY has the potential to fall below 125 by mid-Apr.

Secondary Trades:

GM Apr 20 or 22.5 calls are a buy on a small pullback.

Others to Watch:

Oil stocks fell sharply today. HAL calls may be a buy on another one point pullback. HAL fell over 2 1/2 points to close at 68 1/2, and Apr 65 67.5 or 70 calls may be a buy. OIH fell six points to close at 137, and Mar 135 or Apr 140 calls may be a buy below 134.

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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.