oh, it's on!

So says IBD, "Confirmed Rally" is back. Well, this was the best day the Nasdaq has seen in a long time: a breakaway gap up on 27% greater than normal volume! Oh, and it's a new multi-year high. I guess all the bond fears are now gone? Or was that just a fakeout?

Today I bought VIP, which I bought back right before close today. Got stopped out of it last week after I held it for a long time as it dropped below the 50dma on greater than avg volume.

It bounced right back through the 50d, however, and today made a new high on big volume, finally breaking out of the range it was in for the month of May (or the last 3 months, you could argue.

For some reason, I haven't worried as much during this past correction. I think a lot of it has to do with the fact that I put stops under ALL of my positions--a few trailing stops, but most based upon ATR or 7% less than the buypoint. I decided that I'm just not going to worry if they get stopped out too soon. "There is always another stock."