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Thu: Top Buys OEX GE GM Top Sells SPY PNRA

Primary Trades:

If OEX pulls back from 575 to below 573, that may be an opportunity to buy Feb 570 calls, for a quick trade. Major resistance are about 578 (50-day MA) and around 580 (congestion area).

GE closed at 32 3/4. Major resistance are around 33 and around 33 1/2.

SPY Mar puts can be used to hedge Feb calls.

Secondary Trades:

GM closed at 22 above the 50-day MA about 21 3/4. However, MACD may be on the verge of becoming bearish. A stop at the 50-day MA may be needed.

PNRA reports earnings after the close Thu.

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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.