Stocks to Buy May 13, 2009 5/13/09

Tuesday, during regular trading hours, there were many stocks that continued to break out to the upside. Below is a list of stocks that are worth watching for May 13, 2009. Also, check out the Biggest Stock Gainers of the Day. You can also find previous stocks to buy reports - Right Here

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Stocks to Watch - 5/13/09 - Stock Market Ideas

Financials: For the second straight day, bank stocks were weak but showed signs of life during the afternoon hours on Tuesday. Below are the following financial stocks I am watching along with a few other stocks as well.

Direxion Financial Bear 3X Shares (NYSE: FAZ)
Direxion Financial Bull 3X Shares (NYSE: FAS) - $10 failed for FAS Tuesday and it tested the next support of $9.30. After plunging to $9.08, FAS came back and traded above $9.30 and then broke back above $10. $9.08 now becomes critical support going forward. If it fails, I look for $8.09 to be tested.

Citigroup Inc (C:NYSE) - Citigroup stock tested the first level of support on Tuesday located at $3.70. $3.50 would be the next area of support and then its back to $3 for Citi. Expect fireworks when Citi breaks through $4.48.

Bank of America Corp. (NYSE:BAC) - BAC stock is approaching it's 10 day moving average at $11.30. This should be an area where buyers would step up to the plate. If $11.30 fails, look for $10 to be the next downside target. On the upside, when BAC trades back above $13.55 I will jump in for a trade.

Wells Fargo & Company (NYSE:WFC) - WFC still has support at around $24 as we saw Tuesday....should be a solid support level just above the recent stock offering. A close below the 10 day moving average around $23.79 would not be good.

Ford Motor Company ( F ) - Ford needs to hold $5 or it has massive downside risk into the $3's....be careful! For a trade, I may try to buy F in the low $5's with a tight stop at $4.99. Jim Cramer was on CNBC Tuesday and said " Wait " to buy Ford stock.

Converted Organics Inc. ( COIN ) - Love COIN over $2 as the break out should continue. I don't see any stop in this run until $3.00. I will be buying pullbacks to the 10 day moving average around $1.65.

Google Inc. ( GOOG ) - Jim Cramer said give or take 10 points, he thinks Google stock is bottoming here.

NYSE Euronext ( NYX ) - Jim Cramer says NYX stock is bottoming

The Bank of New York Mellon Corporation ( BK ) - Jim Cramer likes this stock and says it is bottoming.

Cell Therapeutics, Inc. ( CTIC ) - CTIC stock traded down to $1.26, one penny above the offering on Monday. Since hitting $1.26, CTIC jumped back into the $1.40's. A break above $1.50 and I will jump back into this stock.

DryShips Inc. ( DRYS ) - After two big downgrades Friday & Monday, DRYS finally turned around and went green. This is one stock to watch for the rest of the week. The baltic dry index is breaking out to the upside.

Other Stocks to Watch - May 13, 2009

Federal Agricultural Mortgage Corp. (AGM)
STEC, Inc. (STEC)
Winn-Dixie Stores Inc. (WINN)
O'Charley's Inc. (CHUX)
Entropic Communications, Inc. (ENTR)
Ctrip.com International Ltd. (CTRP)
MGM Mirage (MGM)
Las Vegas Sands Corp. (LVS)

Penny Stocks to Watch - 5/13/09

BankUnited Financial Corporation (BKUNA)
Spanish Broadcasting System Inc. (SBSA)
IA Global, Inc. (IAO)
Angiotech Pharmaceuticals Inc. (ANPI)
Triad Guaranty Inc. (TGIC)
Pacific Rim Mining Corporation (PMU)
Cano Petroleum, Inc. (CFW)
On2 Technologies Inc. (ONT)

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