Stock Market 2/19/09 February 19, 2009

The Stock Market is showing signs of life this morning as we had a flat initial claims number come out at 8:30am. Combine this economic data with the fact that the major stock market averages are a bit oversold, we could be looking at a rally in the next few days.

What I am Watching 2/19/09

- I am noticing the major bank stocks turning around this morning. BAC, C, GS, JPM

- The US Dollar is weakening, causing Oil prices to move higher ( $35.62 ) - this is actually good for the stock market because in this new world, Oil has been a gauge for the markets. On this latest down slide, Oil started moving down days before the markets did.

- Gold falling from the highs this morning - $977

- Chesapeake Energy CHK Upgraded to Outperform from Market Perform by Bernstein - CHK needs to break out of a triple top around the $20 - this upgrade could be some fuel it needs to do this. Support at $15 has been solid.

- Research in Motion RIMM is turning around - traded $41.90 in after hours last night - it is now $42.70 - Severely oversold, maybe a bounce coming back to $46?

- How about Anady's Pharmaceuticals ANDS - This stock continues to RIP higher and is the Top Stock for 2009.

- QLD - I continue to trade the QLD which is the Nasdaq 100 Bull stock - Opposite of QID which is the Ultra short.

Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index

For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free