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SUN continues to move higher and farther away from our trigger point. I am removing it this week but for those willing to take the risk a breakout over $80 could be bought with a tight trailing stop.

Since we already have seven energy stocks in the portfolio I am not going to add any to the list this weekend. We have waited patiently for the rebound to begin and now we need to just capture our profits when they appear.

The drillers have taken off in the last four days and entries I was considering last weekend no longer are appropriate. I think we are seeing speculation on the cold front and while the trader part of me wants to keep adding positions I don't believe it is a wise move today.

Winter demand will be peaking just as the year end rolls around and funds will be dumping energy stocks and taking profits in early January. My outlook is for a ramp into Christmas and then a plateau where we should exit. This short term time frame is not worth taking new risks by adding new positions.

In the first week of January I am going to add some shorts but until then I simply don't see any long targets worth pursuing.

Be patient. Our time will come. If you need something to trade buy AHC on a breakout over $133.
 

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