All systems go

The bulls have all systems go: H&S pattern failure, resistance breached, the entire media talking about how Ben Bernanke has saved the world, and rising oil with a falling dollar.

Heck if you can't beat them, join them.

A lot of bears have been hurt recently by this up move we are in. I would be lying if I said I hadn't been hurt. I have had some winners but more losers than I typically get. Sometimes that happens and we just have to brush off and try again. So what am I looking at?

Keep your eye on the dollar, as long as it is heading south then equities should do fine. But it will soon fine a intermediate term bottom so if you are bullish just be prepared with your stops. As your position profits, just raise your stops to lock in the gains. Here is what I am trading:

SRS...watch IYR which could run to $39 making SRS attractive again.
UNG...will run sometime, probably a continued buy on a ticks under $13
TZA...3x bear IWM
TNA...3x IWM
UCO...this is double long oil
STP...breakout in progress, watch a reversal be defensive
JASO...possible breakout, watch it
KONG...broke last week but ended the week soft
HIG ...I had nice gains last week on this but exited too soon...I'm watching for a breakout

Is everybody in?

I'm getting that feeling again, where I need to ask, "Is everybody in?"

7 straight up days for the S&P...even though volume has been low, prices have gone up and bears have been hurt.

Based on the good numbers coming from tech land this quarter, I think it is fairly obvious what Americans have been doing with stimulus money. They have not been paying down their mortgages with it like they are supposed to...nope, they have been shopping for electronics.
Artificial earnings are now complete! Or are they? Perhaps we get another quarter of artificial earnings, after all, the Fed pumped massive amounts of money into our system.
Here's what I'm trading:

UNG
SRS
FXP
KONG
DIG
DUG
ERY
TNA
TZA

KONG

What a run this stock has had. $3 to $11.50 in a fairly short period of time. The upward move has been steady and long overdue IMO. This is a quality growth gaming company in China and a very possible takeover candidate. It has broken resistance. I'm looking for a move to $14.50 ish.

$11.20 was the resistance and it closed above this price Friday.