My stocks are running, market breadth is improving and I opened a lot of positions today.
PSXP is a fantastic weekly breakout. This was my top prospect from the weekend and it did not disappoint as it rallied up to all time highs.
IPHI: Volume has come on with a High volume weekly breakout. I would have liked this on a pull back, but as this week breaks higher I'll stake out an initial position.
A secondary push higher a high volume push an the end of 2011. This looks like a good risk to reward. Stop at the 6 EMA or first reversal which allows a power move to be captured.
Weekly, shows a gap to be filled If gets going 2.70+ could be on board. PT recently raised from 7 to 9. Seems crazy to target over 400% but who knows.
GDXJ: Following a great burst over the 10Week which I caught a piece of GDXJ but sold for a small gain as caution prevails. A back test to the 10week holds and rallies nicely, giving the "jump back in signal" I expect Gold stocks to trade sloppily as there have been many, many false bottoms. I'm not calling a bottom but I'll trade what I see.