CTIC SIRI DNDN Stock April 6 2009 4/6/09

The following is a little technical analysis on the some of the Top - Most searched for stocks over the weekend. I sometimes target the most searched for stocks because there will usually be a lot of trading activity.

Most Searched for Stocks - Analysis - 4/6/09


Cell Therapeutics ( CTIC ) - If you look at a 5 day chart of CTIC, you will notice that ever since the big pop, CTIC has traded between $0.35-$0.45. On Friday, I noticed that CTIC was very strong toward the end of the day and this is the first time in 4 trading sessions that CTIC didn't fall big during the final hour. This action sets up for an interesting Monday. I believe if CTIC breaks up through $0.40, you could get some technical buying. However, I am personally waiting for CTIC to break up through $0.45 be I would be jumping in.

Financial Bear ( FAZ ) - I am not sure why this is one of the most searched stocks, you would think FAS would be higher. Check out my FAS analysis. I trade these two stocks daily. If FAZ gaps down tomorrow, I might be buying the open for a trade. The FAS has gone from $5.20 to $7.20 in two days. A little over bought but still in a solid uptrend.

Sirius XM Radio ( SIRI ) - I am waiting for SIRI to clear $0.44 resistance for a push back to $0.50 - $0.57 which would be next resistance. If I were in SIRI stock right now, I'd be using a stop at $0.34. I say this because Sirius is trending along its 10 day moving average at $0.356 and if $0.34 is printed you could be looking at the early stages of a breakdown.

Apple Inc ( AAPL ) - See Technical Analysis on AAPL

Citigroup Inc. ( C ) - See Technical Analysis on C

Dendreon Corporation ( DNDN ) - DNDN stock is soaring as word came out Friday that the company could be releasing its long awaited trial data for cancer drug provenge. This has been one of the most highly anticipated drugs over the past three years. Dendreon could be releasing their latest clinical trial findings at presentation on April 28, 2009 in Chicago. It is unclear whether they will release it that day or wait until May. Positive data would most likely send shares of DNDN above $10, and an FDA approval of the drug could send the stock above $30. Failure of any of these two would send DNDN stock back to $2.00 or lower. There is huge risk here but can be fun to day trade!

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