Below are the first two ideas exactly how they were presented in last Thursdays Game Plan.

Stocks that can be bought as they take out bullish ascending triangle formations are PSX IBM. PSX is among the energy space and is higher by 10% YTD and 3% over the last one year period and sports a dividend yield of 2.5%. Its last earnings gain of 3.1% on 1/29 was its first advance in its last 4 as it fell 1.5, .9 and .6% on 10/29, 7/30 and 4/30. PSX is higher 9 of the last 12 weeks which includes a very nice 6 week winning streak between the weeks ending 1/23-2/27 where it rose by more than 25%. The round 80 handle has been a thorn in the stocks side as it was resistance from 11/21-25, 2/24-27 and 3/25-4/2 (recorded only one CLOSE above of 80.06 on 2/26). Enter on a buy stop above the ascending triangle at 80.25.

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