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Stocks to Watch - 5/21/09 - Stock Market Ideas
Financials: The bank stocks were hot early in the trading session on Wednesday but then took a big dip. Below is a list of financials stocks i am watching for Thursday.
Direxion Daily Financial Bear 3X Shares (FAZ)
Direxion Daily Finan. Bull 3X Shs(ETF)(FAS) - FAS stock hit a high of $10.48 before plunging to the recent area of support between $9.20-$9.30. A close below this level would spark another test on the low $8's like we saw last week. On the upside, FAS is having trouble staying in the $10 range. FAS will take off again when it breaks the May 12th high of $10.94.
Citigroup Inc (C:NYSE) - Citigroup was on fire Wednesday morning and hit a high of $3.96, just short of the $4 resistance level. Going forward, when Citigroup trades above this resistance area, I think a break out will occur up to the $4.48 resistance level. On the downside, Citigroup continues to be a solid buy in the $3.50-$3.70 area.
Bank of America Corp. (NYSE:BAC) - Bank of America Corporation continues to trend along with the 10 day moving average. In the morning, BAC stock tests the 10 day moving average and then sells off. I am watching for a significant break out over this level to jump into the stock for a trade. I will go short if BAC breaks $10.
Wells Fargo & Company (NYSE:WFC) - Wells Fargo continues to be weak....WFC has support at the 200 day moving average located at $24.09.
Tenet Healthcare Corp. (THC) - THC stock broke up through $3.00 on Wednesday but failed at $3.24. A close over this level would be huge and I would expect $3.61 to be tested. THC was upgraded by Goldman Sachs on Tuesday.
PowerShares DB Crude Oil Double Long ETN ( DXO ) - Crude oil continues to break out. This an stock worth watching if you want to play crude oil. Also check out the United States Oil Fund LP (ETF) ( USO ) & United States 12 Month Oil (USL)
JA Solar Holdings Co., Ltd. (JASO) - JASO was upgraded Wednesday and will be on my watch list for Thursday. I am watching $4.32, $4.57, and $4.80 as resistance levels.
Other Stocks to Watch - May 21, 2009
Tween Brands, Inc. (TWB)
Internet Gold Golden Lines Ltd. (IGLD)
Optimer Pharmaceuticals, Inc. (OPTR)
Dycom Industries Inc. (DY)
Paragon Shipping Inc. (PRGN)
Analog Devices Inc. (ADI)
The Talbots Inc. (TLB)
Trina Solar Ltd. (TSL)
Star Bulk Carriers Corp. (SBLK)
Yingli Green Energy Holding Co. Ltd. (YGE)
AgFeed Industries, Inc. (FEED)
Penny Stocks to Watch - 5/21/09
Lear Corp. (LEA)
DayStar Technologies Inc. (DSTI)
Power-One Inc. (PWER)
Oscient Pharmaceuticals Corp. (OSCI)
LJ International Inc. (JADE)
Openwave Systems Inc. (OPWV)
Hemispherx Biopharma, Inc. (HEB)
General Motors Corporation (GM)
Anooraq Resources Corporation (ANO)
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