The stock market declined for a sixth straight day on Friday as financial advisers fielded a new round of calls and emails from clients wondering whether to get out or sit tight.
Investors pulled about $32 billion (Dh117.5 billion) out of money-market mutual funds for the week that ended last Wednesday, according to fund tracker Lipper. That is just a tiny fraction of the $2.6 trillion invested in such funds. But the exodus appeared to be accelerating at week's end as tomorrow's deadline for reaching an agreement on Capitol Hill drew near.
Stocks to Watch - 8/1/11 - Stock Market Investing Ideas
Kodiak Oil & Gas Corp. (KOG) - Kodiak Oil & Gas Corp. was one of my best oil stock ideas for 2011. Kodiak Oil & Gas Corp. (KOG) is one of the up and coming companies in the Bakken Shale. KOG is now breaking out into the high $6's. KOG is a buy below $5.50 from here on out. Discuss KOG
Samson Oil & Gas Limited (SSN) - SSN fell back into the $2.60's on Friday and then bounced. SSN will have resistance located at $3.00. SSN is a buy below $2.70.
Paramount Gold and Silver Corp. (PZG) - Paramount Gold and Silver Corp. (PZG) is my Top Gold Stock for 2011. PZG hit a low of $2.85 on Friday. PZG will have resistance located at $3.50. PZG is a buy below $2.80.
American International Group, Inc. (AIG) - American International Group, Inc. (AIG) is now trading back below $29. AIG will have resistance at $31.79. AIG has support located at $25.
Sirius XM Radio (SIRI) - Sirius XM Radio (SIRI) is now back to $2.10. Sirius XM Radio will now have support at $2.00. Sirius XM Radio is a strong buy on pullbacks below $1.60. SIRI will now have resistance located at $2.50.
Las Vegas Sands Corp. (LVS) - Las Vegas Sands Corp. (LVS) is now trading back above $47. Las Vegas Sands Corp will have resistance located at $50. Las Vegas Sands (LVS) is a buy below $38 for a swing trade.
Dryships Inc. (DRYS) - Dryships Inc. (DRYS) is now trading back below $4.00. The next major resistance level for Dryships is located at $4.10. Drys has support at $3.50.
Direxion Daily Financial Bear 3X Shares (FAZ)
Daily Finan. Bull 3X Shs(ETF)(FAS) - Daily Finan. Bull 3X Shs(ETF)(FAS) held $22 on Friday. FAS will have support located at $21 and resistance located at $26. FAS is a strong buy below $22 per share. I would be avoiding Direxion Daily Financial Bear 3X Shares (FAZ) right now.
Research In Motion Ltd. (RIMM) - Research in Motion Ltd (RIMM) hit $24.81 on Friday morning. Research in Motion (RIMM) has support located at $22. Research in Motion (RIMM) will have resistance up at $30.25.
Cisco Systems, Inc. (CSCO) - Cisco Systems, Inc. (CSCO) rallied above $16 on a Goldman Sachs upgrade. CSCO will have resistance around $16.85 now. Cisco Systems (CSCO) will have support down around $15.50. Cisco Systems is a strong buy below $17 for the long term. We are seeing a break out in the stock with earnings set to be released August 10, 2011.
Stocks to Watch for Daytrading - Samson Oil & Gas Limited (SSN) - Hyperdynamics Corp (HDY) - DryShips, Inc. (DRYS) - Arena Pharmaceuticals, Inc. (ARNA) - Bank of Ireland (IRE) - Cyclacel Pharmaceuticals, Inc. (CYCC) - Somaxon Pharmaceuticals, Inc. (SOMX) - Rediff.com India Ltd. (REDF) - Allied Irish Banks plc (AIB) - YRC Worldwide Inc. (YRCW) - China Shen Zhou Mining & Resources, Inc. (SHZ) - Limelight Networks, Inc. (LLNW) - Level 3 Communications Inc. (LVLT) - Jones Soda (JSDA)
Amazon.com Inc. (AMZN) - Amazon.com Inc. (AMZN) continues to hold the $220's. AMZN will hit resistance at $235. Pullbacks below $180 are a buy.
Level 3 Communications Inc. (LVLT) - Level 3 Communications Inc. (LVLT) is back testing the 50 day moving average again. Level 3 Communications (LVLT) is a buy below $2.00
Netflix, Inc. (NFLX) - Netflix, Inc. (NFLX) dropped into the low $260's on Friday. Netflix Inc (NFLX) will have resistance located at $280 going forward. Netflix has support located at $250. Netflix Inc (NFLX) is a buy on pullbacks below $220.
Baidu, Inc. (BIDU) - Baidu, Inc. (BIDU) failed to hit a new 52 week high on Friday. Baidu Inc will have resistance up at $170. Baidu has support located at $140. If Baidu Inc. (BIDU) ever falls below $120, I would rate the stock a buy.
Oracle Corp (ORCL) - Oracle Corp (ORCL) held $30 on Friday. ORCL will now have resistance located at $32 over the next week.
E-Commerce China Dangdang Inc. (DANG) - E-Commerce China Dangdang Inc. (DANG) is now trading back below $12. DANG will have support located at $10.85 and resistance located at $13.
Advanced Micro Devices Inc. (AMD) - Advanced Micro Devices Inc. (AMD) continues to base after a monster rally last week. Advanced Micro Devices Inc. will now have resistance located at $8.02 which is the 200 day moving average. AMD will have support down at $7.00.
Goldman Sachs Group, Inc. (GS) - Goldman Sachs Group (GS) is trading back above $135 and is now breaking out. Goldman Sachs (GS) will now face resistance around $145. Goldman Sachs (GS) has support between $130.
Potash Corp. of Saskatchewan, Inc. (POT) - Potash Corp. of Saskatchewan, Inc. (POT) is back trading below $60. Potash Corp will have support located at $55. Potash Corp. of Saskatchewan, Inc. (POT) is a strong buy below $52 on a pullback.
Freeport-McMoRan Copper & Gold Inc. (FCX) - Freeport-McMoRan Copper & Gold Inc. (FCX) is trading below $55 now. FCX is a buy below $50, strong buy below $45.
SanDisk Corp. (SNDK) - SanDisk Corp. (SNDK) is back below $44. SNDK will have resistance around $45 going forward.
Allied Irish Banks plc (AIB) Bank of Ireland (IRE) - Allied Irish Banks plc (AIB) & Bank of Ireland (IRE) continue to be active and worth watching.
Cell Therapeutics, Inc. (CTIC) - Cell Therapeutics, Inc. (CTIC) traded back in the $1.30's on Friday. Cell Therapeutics will have support located at $1.20 now. CTIC will have resistance up at $1.60.
Whole Foods Market, Inc. (WFM) (WFMI) - Whole Foods Market (WFM) is back trading above $67. WFM will have resistance up at $70.
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