Stocks to Buy May 29, 2009 5/29/09

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 29, 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 - 5/29/09 - Stock Market Ideas

Oculus Innovative Sciences, Inc. ( OCLS ) - OCLS stock continues to break out after the company told investors it received FDA approval. OCLS broke to a new 52 week high on Thursday at $5.75. After $6, next major resistance will be the July 2008 high of $7.29.

Angiotech Pharmaceuticals Inc. (ANPI) - ANPI received some FDA approval news late Wednesday which caused the stock to rocket into the close and hit a high on Thursday of $2.58. The next major resistance level I see after $2.58 would be $3.00 and then $3.49 from June 2008. Discuss ANPI

Research In Motion Ltd. (RIMM) - Joe Terranova of CNBC's Fast Money continues to like RIMM since it has broken back into the gap from last year. I personally don't see any resistance until the low $90's. You can stop out at $77 on the downside so this is a low risk trade.

MAP Pharmaceuticals Inc. ( MAPP ) - MAPP stock continues to surge Thursday but is running up against resistance around $13.80-$13.90. A close above $14 would set up a potential move toward $15-$16. The volume has died down but MAPP's stock price remains very strong.

Cell Therapeutics, Inc. (CTIC) - As of May 15th, short interest on CTIC stock was 13,384,280, an increase of 139% from April. I continue to watch $1.37 as an area to get long CTIC on a break through that area. CTIC will be presenting at the ASCO conference over the weekend and early next week. A break below $1.00 would be very bearish, especially now that volume has died down.

Hemispherx Biopharma, Inc. (HEB) - HEB stock continues to be very strong but sold off during the afternoon on Thursday......has support at $1.50....resistance at $1.80 and $2.03 - all eyes on Ampligen FDA decision due out in the next 10 days.

Ford Motor Company ( F ) - A lot of bullish traders like Ford stock right now.... F is trading right around the 10 day moving average while the 50 day moving average is rapidly rising. I think the correction is over and another leg higher is imminent.

Financials: I continue to watch the following banks stocks for trading opportunities.

Direxion Daily Financial Bear 3X Shares (FAZ)
Direxion Daily Finan. Bull 3X Shs(ETF)(FAS) - FAS is really easy to trade right now. Resistance is at $10, support at $9.30 and then $8.60. You can trade both FAS and FAZ off this until the trend changes.

Citigroup Inc (C:NYSE) - As long as Citigroup stock remains over last weeks high of $3.60, I like the stock. Today was really the first day in awhile where Citigroup was lagging the market. Keep an eye on this situation.

Bank of America Corp. (NYSE:BAC) - BAC stock held $10.50 again today which has been recent support. I like BAC over $10 and you could see a nice break out when B of A trades back over $12 per share. As of now, Bank of America is going down along with the 10 day moving average.

Wells Fargo & Company (NYSE:WFC) - WFC broke down to near $23 this morning but the buyers came back in full force. This is one of the best financial stocks right now along with Goldman Sachs ( GS ). Guy Adami says that if Wells Fargo hits $22, you back up the truck and buy buy buy.

DryShips, Inc. (DRYS) - Dryships bounced off the 50 day moving average twice this week and is now breaking out above $7.30. The baltic dry index has been surging and DRYS could be getting ready for a new leg higher.

Other Stocks to Watch - May 29, 2009

FreeSeas Inc. (FREE)
Perry Ellis International Inc. (PERY)
Exelixis, Inc. (EXEL)
Longtop Financial Technologies Limited (LFT)
Cytori Therapeutics, Inc. (CYTX)
Caribou Coffee Company, Inc. (CBOU)
Gulfport Energy Corp. (GPOR)
Star Scientific, Inc. (STSI)

Penny Stocks to Watch - 5/29/09

Peregrine Pharmaceuticals Inc. (PPHM)
Vasogen Inc. (VSGN)
Targeted Genetics Corp. (TGEN)
Opexa Therapeutics, Inc. (OPXA)
Meridian Resource Corp. (TMR)
Cyclacel Pharmaceuticals, Inc. (CYCC)
Wave Systems Corp. (WAVX)
Dynavax Technologies Corporation (DVAX)
Cerus Corporation (CERS)
CuraGen Corp. (CRGN)
Authentidate Holding Corp. (ADAT)
Altus Pharmaceuticals Inc. (ALTU)
Generex Biotechnology Corp. (GNBT)
Antigenics Inc. (AGEN)

Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks

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