Stocks to Buy May 22, 2009 5/22/09

Thursday, 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 22, 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 - 5/22/09 - Stock Market Ideas

Financials: The bank stocks actually held up well on Thursday despite the downturn we saw in the stock market. If the financials would have been down heavily, the stock market would have gotten crushed on Thursday. Below is a list of stocks I will be looking to trade on Friday.

Direxion Daily Financial Bear 3X Shares (FAZ)
Direxion Daily Finan. Bull 3X Shs(ETF)(FAS) - For FAS stock, I continue to watch the $8.29 low from last week and the $8.09 level from April 30th. If these two levels are closed below, there could be major problems coming down the line. I would then look to buy FAS for a trade in the low $7's or a close back above $8.29. On the upside, you can also buy FAS when it breaks the $9.31 high from Thursday. These are strictly quick trades only.

Citigroup Inc (C:NYSE) - Citigroup stock has come a long way! Back in late February, if the Dow Jones was down 150 points, Citi stock would be down at least 10%. Holding right around $3.70, you can't ask for a better performance from C. I am watching $3.96 & 4.00 as resistance levels on the upside. A close over $4 and I jump back in Citigroup stock for a retest of the $4.48 high in April.

Bank of America Corp. (NYSE:BAC) - Bank of America Corporation was also showing strength on Thursday but is now failing at $12. Look for BAC to heat up again on a close back over $12.

Wells Fargo & Company (NYSE:WFC) - WFC stock continues to bounce off $24. Look for this to continue but downside to be around $22 at which Guy Adami of CNBC's Fast Money says to buy WFC stock.

Regional Banks: The regional bank stocks tanked on Thursday. I will keep these on my watch list and if they break up through the high of day on Friday, I will buy buy buy for a quick bounce trade. Regions Financial Corp. (RF), Huntington Bancshares Inc. (HBAN), Fifth Third Bancorp (FITB), Zions Bancorp. (ZION)

Tenet Healthcare Corp. (THC) - Another big upgrade for THC stock on Thursday. This stock has really run fast but would buy pullbacks back to the 200 day moving average ($2.70 ), I have loved THC since $1.95.

Other Stocks to Watch - 5/22/09

Stein Mart Inc. (SMRT)
Sealy Corp. (ZZ)
Vical Inc. (VICL)
Tessera Technologies Inc. (TSRA)
Brocade Communications Systems, Inc. (BRCD)
Kirkland's Inc. (KIRK)
New Gold, Inc. (NGD)
Tech Data Corp. (TECD)
SLM Corp. (SLM)
UltraShort Real Estate ProShares (SRS)
UltraShort Financials ProShares (SKF)
Direxion Daily Energy Bear 3X Shares (ERY)

Penny Stocks to Watch - May 22, 2009

The McClatchy Company (MNI)
Eddie Bauer Holdings, Inc. (EBHI)
Oscient Pharmaceuticals Corp. (OSCI)
TXCO Resources, Inc. (TXCO)
Aastrom Biosciences, Inc. (ASTM)
General Motors Corporation (GM)

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