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Tue: Top Buys OEX GM Top Sells SPX SPY IWM CME

Primary Trades:

SPY rose above 130 today. Nonetheless, it should fall to at least below 126 within a month and perhaps to support levels between 120 and 123 in Mar or Apr. Consequently, Mar and Apr 128 to 130 puts remain buys.

IWM rose to about 74 today. The 50-day MA at 70 1/2 is first major support.

Secondary Trades:

If SPX pulls-back to the 10-day MA, at about 1,285, that may be an opportunity to buy OEX Mar 575 or 580 calls, for a quick trade (although, it's safer to sell some puts instead).

If SPX rises to about 1,300, that may be an opportunity to buy SPX Mar 1,290 to 1,300 puts, for a quick trade.

CME closed at 435 and may be in a 430 to 440 range short-term with the potential to fall sharply with the market.

GM may continue to hold 20.

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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.