power steering fluid shooting out of the reserve

I started the car and my powersteering started to whine. I opened the hood and noticed i was low on fluid. I also noticed that the area around the reserve tank was wet with oil. I topped off the fluid and it worked fine. The next day I started the car with the hood open and watched as the steering fluid started to spray out of the resevoir cap. The tank and hoses are goodresevoir was full. I opened the cap and noticed fluid flowing but it had alot of air bubbles in it. I cycled the steering and topped off the resevoir, steering worked fine. So now everytime i start the car I have to add fluid after it shoots out of the cap. Anyone know what the problem is??

ive tried less and more fluid both ways i get the same problem. i did notice that the pump squeels alot and there are alot of bubbles in the fluid. Sometimes it will get quiet and the fluid is very smooth with no bubbles. i only filled it to the cold line when thye engine was off.