We are adding the following May recommendations to Portfolio #1.

We are recommending credit spreads in the following issues.

FSLR - First Solar,Inc.engages in the design, manufacture,and sale of solar modules using a thin-film semiconductor technology in the United States and internationally. The company is also involved in the design, construction, and sale of photovoltaic solar power systems. Its solar modules employ a thin layer of semiconductor material to convert sunlight into electricity. The company?s integrated solar power systems activities include project development; engineering, procurement, and construction services; operating and maintenance services; and project finance. First Solar, Inc. sells its solar modules to solar power system project developers, system integrators, and operators; investor owned utilities; independent power developers and producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.

NILE - Blue Nile, Inc. operates as an online retailer of diamonds and fine jewelry worldwide. Its fine jewelry selection includes diamond, gemstone, platinum, gold, pearl and sterling silver jewelry, and accessories, as well as wedding bands, earrings, necklaces, pendants, bracelets, and watches. Blue Nile, Inc. sells its products through the Web sites bluenile.com, bluenile.ca, and bluenile.co.uk. The company was formerly known as Internet Diamonds, Inc. and changed its name to Blue Nile, Inc. in November 1999. Blue Nile, Inc. was founded in 1999 and is headquartered in Seattle, Washington.

SDRL - Seadrill Limited, an offshore drilling contractor, provides offshore drilling services to the oil and gas industry worldwide. It also offers platform drilling, well intervention, and engineering services. As of December 31, 2011, the company owned and operated 40 offshore drilling units, which consisted of drillships, jack-up rigs, semisubmersible rigs, and tender rigs for operations in shallow and deepwater areas, as well as in benign and harsh environments. Seadrill Limited was founded in 1972 and is based in Hamilton, Bermuda.

BKE - The Buckle, Inc. operates as a retailer of casual apparel, footwear, and accessories for young men and women in the continental United States. Its casual apparel products include denims, casual bottoms, tops, sportswear, and outerwear. The company also sells its products through operating buckle.com. As of April 30, 2011, it had 422 stores located in 41 states under the ?Buckle? and ?The Buckle? names. The company was formerly known as Mills Clothing, Inc. and changed its name to The Buckle, Inc. in April 1991. The Buckle, Inc. was founded in 1948 and is headquartered in Kearney, Nebraska.

We are recommending the following specific credit spreads.

Call Credit spreads = Bearish call spreads.

We are adding the following April recommendations to Portfolio #2.

We are recommending credit spreads in the following issues.

WTW - Weight Watchers International, Inc. engages in the provision of weight management services primarily in North America, the United Kingdom, Continental Europe, Australia, and New Zealand. It offers various services and products that are built upon its weight management plans, including nutritional, exercise, and behavioral tools and approaches. The company also sells a range of products, including bars, snacks, cookbooks, food, and restaurant guides with PointsPlus values, Weight Watchers magazines, and PointsPlus calculators In addition, it provides Internet subscription products comprising Weight Watchers Online that offers online content, functionality, resources, and interactive Web based weight management plans; and Weight Watchers eTools, an Internet weight management product that allows users to manage the day-to-day aspects of weight management plans online, discover different food options, stay informed, and keep track of their weight management efforts. Further, the company offers iPhone and Android applications, which provide subscribers with access to a suite of weight-loss tools, as well as helpful content; and iPad application that offers subscribers with access to a set of recipe tools. Weight Watchers International, Inc. was founded in 1961 and is headquartered in New York, New York.

BWLD - Buffalo Wild Wings, Inc. engages in the ownership, operation, and franchise of restaurants primarily in the United States. The company offers chicken and various food and beverage items, as well as serves bottled beers, wines, and liquor. It operates its restaurants under Buffalo Wild Wings Grill & Bar brand name. As of February 07, 2012, the company had 827 Buffalo Wild Wings locations across 47 states in the United States, as well as in Canada. Buffalo Wild Wings, Inc. was founded in 1982 and is headquartered in Minneapolis, Minnesota.

We are recommending the following specific credit spreads.

Call Credit spreads = Bearish call spreads.