Stocks to Buy May 20, 2009 5/20/09

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 20, 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 - 5/20/09 - Stock Market Ideas

Financials: The bank stocks had a great day on Tuesday with the exception of WFC. Below is a detailed list of financial stocks I will be watching for Wednesday.

Direxion Daily Financial Bear 3X Shares (FAZ)
Direxion Daily Finan. Bull 3X Shs(ETF)(FAS) - These two stocks were quiet after the first two hours of trading on Tuesday. For FAS, the low on Tuesday was $9.87 which is now a level where if broken, i'd be jumping into FAZ for a trade. On the upside, the resistance level is now today's high of $10.71 which was close to the pre market high. FAS stock can go either way at this point but it is encouraging to see Citigroup so strong. Check out our FAS/FAZ group.

Citigroup Inc (C:NYSE) - Citigroup stock was very strong on Tuesday. Right now, there is solid support from $3.60-$3.62 and resistance from the first week of May at $3.93 & $3.99. A close above this area would set up a retest of the previous highs at $4.41 & 4.48.

Bank of America Corp. (NYSE:BAC) - BAC stock was boring on Tuesday despite the upgrade to buy on Monday out of Goldman Sachs. I continue to watch the 10 day moving average as investors have been selling each bounce toward this level. A close back above the 10 day moving average will get Bank of America moving again. Keep a stop at $11.52 because this was the low from Monday after the upgrade.

Wells Fargo & Company (NYSE:WFC) - Wells Fargo stock went from strong to weak but pullbacks to the $24 area seem like a thing of the past. Tuesday was just another pullback to the 10 day moving average at $25.97. Keep an eye on the recent high of $28.45.

Tenet Healthcare Corp. (THC) - THC stock received an upgrade by Goldman Sachs on Tuesday. Resistance is now right at $3.00. Support has now moved up to $2.70.

Cell Therapeutics, Inc. ( CTIC ) - I continue to watch CTIC.....we had another retest of the $1.37 area which failed at $1.34. This makes $1.37 an ever greater resistance level but I know exactly where to buy now. The ASCO conference will be here in a few weeks.

Palm, Inc. (PALM) - The Palm pre is due out June 6, 2009. Palm stock his a new 52 week high on Monday at $12.17. Jim Cramer says you can buy it up until the release date but then you have to sell on the news. He says if it comes back down, you can buy again. Research In Motion Limited ( RIMM ) is also a buy

Other Stocks to Watch - 5/20/09

Fonar Corp. (FONR)
Kulicke & Soffa Industries Inc. (KLIC)
Saks Incorporated (SKS)
Paragon Shipping Inc. (PRGN)
Solarfun Power Holdings Co. Ltd. (SOLF)
Dollar Thrifty Automotive Group Inc. (DTG)
Gildan Activewear Inc. (GIL)
Raser Technologies, Inc. (RZ)
China Precision Steel, Inc. (CPSL)
The Governor and Company of The Bank of Ireland (IRE)
CardioNet, Inc. (BEAT)
YRC Worldwide Inc. (YRCW)
Spectrum Pharmaceuticals, Inc. (SPPI)
Itron Inc. (ITRI)
OncoGenex Pharmaceuticals, Inc. (OGXI)
CROCS Inc. (CROX)
Entegris, Inc. (ENTG)
Dendreon Corp. (DNDN)

Penny Stocks to Watch - May 20, 2009

Palatin Technologies Inc. (PTN)
Zix Corp. (ZIXI)
Pacific Ethanol, Inc. (PEIX)
Inhibitex Inc. (INHX)
Colonial Bancgroup Inc. (CNB)
Trident Microsystems Inc. (TRID)
Cosi Inc. (COSI)
MDRNA, Inc. (MRNA)
Angiotech Pharmaceuticals Inc. (ANPI)
SIRIUS XM Radio Inc. (SIRI)
UOMO MEDIA INC (UOMO.OB)

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