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Mon: Top Buys EBAY MXIM DELL KBH Top Sells OIH SIAL MS INTU PCAR

Primary Trades:

Calls: Aug calls on EBAY MXIM DELL and KBH are buys on pullbacks.

Puts: If the market continues to fall, OIH should also fall, although oil prices may continue to rise. Jul 145 or 150 puts may be best.

Secondary Trades:

Calls: EBAY Jul 27.5 calls, MXIM Jul 30 calls, and DELL Jul 22.5 calls will have huge potential leverage next week, although also very risky.

Puts: SIAL Aug 70 puts, MS Jul 60 puts, INTU Jul 30 puts, and PCAR Aug 75 puts may be best to hedge against a possible SPX fall below the 1,219 low.

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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.