Ambac ( ABK ) CIT Group ( CIT ) 10/17/08

Today the stock market is having a great day bouncing off the low from this morning to breaking out this afternoon.

Two of the biggest gainers for Friday 10/17/08 are ABK and CIT

CIT rebounded after a 38% loss Thursday, when the company reported its net loss ballooned amid surging credit losses and $455 million in write-downs at its vendor-finance business.

Ambac ABK: Analysts at Barclays capital cited reports that insurer Ambac Financial Group Inc. was going to the U.S. Treasury with a bailout proposal that would enable insurers to sell bad assets to the government as the primary reason for the stock to bounce.

These two stock have the potential to gap higher on Monday if some nice buy volume can come in at the end of the day and they can remain near their highs.

For more of the biggest gainers of the day, visit: http://blackberrystocks.com/hotstocks.html