OPENED, PSXP, IPHI, ATHX, GDXJ

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.
Entry: 76.40

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.
Entry: 21.05
Stop: 19.70

ATHX:
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.
Entry 2.23

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.

Entry 27.96

Opened Longs, GDXJ, JCP

A lot of miners had some decent looking charts.... (I went through hundreds of charts this weekend.)  Rather than mess around with individual names I went into GDXJ.  Perhaps its because last year at this time I went in to GDXJ for a 10+ point move. Here we have aice little flag and a breakout out.

Entry: 28.13
Note, I sold off half my position at 28.83
Stop 6 EMA.

JCP:
Hit a nice gap with narrow consolidation after a gap test.
Entry: 8.08
Stop 7.55

A bit of a bounce. Stopped Out of GDXJ and some new action in Auto Parts. ORLY AZO

After taking a beating over the last two days the markets staged a rally.  It looks like my FB trade was just a day early as FB rallied hard today:

I thought 62 might act as support and it did. But I wasn't willing to move my stop to take the risk.  I guess you can't win them all.

GDXJ has shown great strength and my short taken during the congestion must be closed.  

Entry 40.76 closed 43.95. - 3.19.   I knew this was somewhat of a risky trade going into it as gold stocks are notorious for choppy actions and fake breakouts in both directions. So I positioned size accordingly. 1.5% loss here.

Today's break was on high volume, which suggests I should look for long plays in some of the miners included in the ETF.

New Positions:  In at 155.50.  A  very nice move out of congestion.  I'm playing this a smaller than normal so I have a stop at 151.90 . 

Since ORLY broke out I'm anticipating that AZO will follow. So I picked up some calls:

I picked up the July 550s calls.  This a high risk trade given the the option expo day. It either works tomorrow or I get out out because the Theta decay is going to get ugly real fast.

On options my risk and position size is set assuming a  $0.00 so I'm risking .05%R here.



What has me excited about both of these stocks is their monthly charts, A breakout on the weekly charts could produce some very big moves:

ORLY weekly (dynamic):

AZO (Dynamic )

New position: Short GDXJ

GDXJ was a stock (actually an etf of the junior minors) that got my year off to  a great start.
 Although that move failed, I got out with great profits.   It sank back down and has recently rallied.   This time I'm playing the fade.

Short $40.76.   The news that sparked the rally was overblown in my opinion.  My sources tell me that it was short covering and that the smart money was selling into the rally.   I think it is likely that it will fade again.

Stop @ 44 R. 1.5